Company Direct-to-consumer sales were up 32% and digital sales were up 84%. In fiscal 2020, the Company returned $4.5 billion to shareholders, including: As of May 31, 2020, a total of 45.2 million shares had been repurchased for approximately $4.0 billion, resulting in approximately $11 billion in remaining capacity under the 2018 share repurchase program. Our fourth quarter results were significantly impacted by physical store closures across North America, EMEA and APLA, where 90 percent of NIKE-owned stores were closed for roughly eight weeks in the quarter to protect the health and safety of teammates and consumers and help slow the spread of the COVID-19 pandemic. Nike said its digital sales for its namesake brand were up 84% during the quarter, as more shoppers visited its website during the pandemic to buy athletic apparel and footwear to keep up their fitness routines and personal health. Beat the rush and find great gifts with the Nike Black Friday collection, featuring the season's latest shoes and gear. Sales at the Converse brand dropped 38%. BEAVERTON, Ore., Mar. During the fourth quarter, NIKE, Inc. repurchased 1.9 million shares for approximately $159 million before suspending share repurchase activity in March to maximize liquidity in the current dynamic environment. Strong sales during Alibaba's Single's Day in China, and Black Friday in the U.S., also helped it barrel into the holidays with tighter inventories, reducing the need for discounting. Women's Running Shoe. We are continuing to invest in our biggest opportunities, including a more connected digital marketplace, to extend our leadership and fuel long-term growth.”**, As of today, approximately 90 percent of NIKE-owned stores are open across the globe. Find the complete earnings press release from Nike here. Sales at the Converse brand, which is owned by Nike, fell 1% during the second quarter. "We've learned so much over the last nine months.". The retailer also said it saw "record" sales online in the United States the week of Black Friday, but it didn't disclose the exact amount. For those unable to listen to the live broadcast, an archived version will be available at the same location through 9:00 p.m. PT, July 11, 2020. In fiscal 2020, digital sales increased 47 percent, or 49 percent on a currency-neutral basis, with all geographies growing strong double-digits. It was able to cut expenses as it spent less on marketing during sporting events due to the pandemic. “As physical retail re-opens, NIKE's strong digital trends continue, a testament to the strength of our brand and the investments we've made to elevate digital consumer experiences,” said Matt Friend, Executive Vice President and Chief Financial Officer, NIKE, Inc. “Amid macroeconomic uncertainty, we will continue to operate with agility, focused on optimizing marketplace supply and demand, cost management and leveraging our financial strength to drive long-term sustainable, profitable growth.”**. Sales rose 8.9% to … Want to get Nike coupon codes and sales as soon as they're released? Analysts had been calling for growth of 12.3%, according to Refinitiv. All Rights Reserved. Adidas and Vans have also shown a positive turn in trends. Other apparel retailers, particularly those centered around work wear and dresses, have struggled through the crisis. But customers who are venturing out to stores are more likely to buy, boosting overall conversion rates. NIKE digital sales increased 75 percent in the fourth quarter, or 79 percent on a currency- neutral basis*, with strong double-digit increases across all geographies and was approximately 30 percent of total revenue. Converse, a wholly-owned NIKE, Inc. subsidiary brand, designs, markets and distributes athletic lifestyle footwear, apparel and accessories. Revenues rose 5 percent on a reported basis and 7 percent on a currency-neutral basis*; Digital sales … 24, 2020 – NIKE, Inc. (NYSE:NKE) today reported fiscal 2020 financial results for its third quarter ended February 29, 2020. Now add the kid-specific savings. Now trading at over $97 per share, Nike is on track to start posting growth for 2020. In Greater China, Nike's revenue grew 24%, compared with year-over-year growth of just 1% in North America. Analysts had been calling for earnings of 68 cents per share. In all, Nike rang up over half a billion dollars in online sales during Singles Day, which occurs on Nov. 11. The Nike Black Friday Sale 2020 is far from picked-over—with the infinite scroll to prove it. Nike said its women's category grew faster than its overall business, thanks to the launch of new yoga gear and plus-size apparel. Source: TY Lim / Shutterstock.com When Nike reported a rare, adjusted loss of 51 cents per share at … Our wholesale partners largely followed the same pattern and as a result, product shipments to wholesale customers were down nearly 50 percent resulting in lower total revenue and higher inventory. For the Nike brand, footwear sales fell 35%, apparel was down 42% and equipment revenue tumbled 53%, as sports and many recreational … Nike delivers innovative products, experiences and services to inspire athletes. "These are times when strong brands get stronger," Chief Executive John Donahoe said during an earnings conference call. 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