Nike shares rise as earnings, sales top estimates, fueled by strong North American demand

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Pedestrians carrying Nike and Allbirds shopping bags in the SoHo neighborhood of New York, on Sunday, Oct. 24, 2021.

Nina Westervelt | Bloomberg | Getty Images

Nike shares climbed around 3% in extended trading Monday after the sneaker maker reported fiscal second-quarter earnings and sales that topped analysts’ expectations, despite ongoing supply chain pressures.

Chief Executive Officer and President John Donahoe said the retailer is in a “much stronger competitive position” than it was pre-pandemic.

Here’s how Nike did in the three-month period ended Nov. 30 compared with what analysts were anticipating, using Refinitiv estimates:

  • Earnings per share: 83 cents vs. 63 cents expected
  • Revenue: $11.36 billion vs. $11.25 billion expected

Nike reported net income of $1.34 billion, or 83 cents a share, up from $1.25 billion, or 78 cents per share, a year earlier. That topped analysts’ expectations for earnings of 63 cents a share.

Revenue rose 1% to $11.36 billion from $11.24 billion. That was ahead of estimates for $11.25 billion.

Sales in North America, Nike’s biggest market, climbed 12%, representing the highest growth of all geographies.

Find the full earnings press release from Nike here.

This story is developing. Please check back for updates.

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