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Season-to-date February through November, retail sales were up 4.5% and apparel and accessories down 31%. In June 2017, Nike outlined a new strategy to drive growth into the coming decade, which it called Consumer Direct Offense. “NIKE’s strong results during a dynamic environment show the power of staying on the offense,” said John Donahoe, president and CEO, NIKE, Inc. On the earnings call, Nike discussed staying with the current strategy which stresses continued product innovation, initiatives that drive brand strength and increasing memberships in the loyalty program. The pillars of the plan included focusing on key cities, ramping up … Find great deals and discounts on clearance shoes, clothing and gear at Nike.com. NIKE (NKE) Beats Q2 Earnings & Sales Estimates, Stock Down. A key driver of the increase in digital sales comes from loyal Nike members and the use of the mobile app which grew 200% in the quarter. This timeline depicts Nike's sales (or company revenue) worldwide 2005-2019. However, top athleisure brands have been able to buck both quarterly sales and season-to-date sales trends as compared to apparel markets. All Rights Reserved, This is a BETA experience. Lululemon has a similar strategy in terms of maintaining a deep connection with customers, which has helped the brand weather the pandemic store closings and occupancy limitations. The company’s sales through Nike Direct expanded 13% over this period. Ethan Chernofsky, vice president marketing of Placer.ai, stated, “Nike visits had pulled within striking distance of 2019 levels by October with visits down just 1.9% year over year.” Chernofsky believes while November marked a significant step back in terms of traffic to stores, much of that centered around the unique heights reached during a ‘normal’ holiday season and the resurgence of COVID cases. Nike Stock. Three years ago, Nike made a significant change in strategy by reducing the number of wholesale distributors, eventually including Amazon Our strategy is working, and we are excited for what’s ahead.” Nike is very focused on customer engagement and the direct-to-consumer model and views these initiatives, along with continued product innovations, as future drivers of positive financial results into the next year. Update your location? Ports? View Privacy & Cookie Policy for full details. Zacks Equity Research December 20, 2019. Nike asks you to accept cookies for performance, social media and advertising purposes. My interdisciplinary education includes an M.B.A. in Strategic Business Administration from Penn State University, a B.S. Nike asks you to accept cookies for performance, social media and advertising purposes. NIKE Direct) (36.1%); and a … NKE Become a Nike Member for the best products, inspiration and stories in sport. Advertising cookies (of third parties) collect information to help better tailor advertising to your interests, both within and beyond Nike websites. NIKE (NKE) Beats Q2 Earnings & Sales Estimates, Stock Down. © 2020 Forbes Media LLC. November Retail Sales Aren’t As Ominous As You Think—Just A Clear Set Of Covid-19 Winners And Losers, Four Trends That Will Shape Retail In 2021, Fueled By E-Commerce Growth, Industrial Leasing Continues To Soar. Advertising cookies (of third parties) collect information to help better tailor advertising to your interests, both within and beyond Nike websites. Friend discussed NIKE’s quick response to inventory overages due to closed stores … in Organizational Behavior from University of San Francisco and an A.S. in Fashion Merchandising and Buying from Fashion Institute of Technology. By continuing to browse our site, you agree to the use of these cookies. For more information about this processing of personal data, check our Privacy & Cookie Policy. BEAVERTON, Ore., June 27, 2019 - NIKE, Inc. (NYSE:NKE) today reported financial results for its fiscal 2019 fourth quarter and full year ended May 31, 2019. Matt Friend, executive vice president and CFO of Nike, Inc. In some cases, these cookies involve the processing of your personal data. Regardless of these looming threats, Nike has weathered 2019 relatively unscathed, even landing among the top 15 analyst picks among the Dow. Nike stock heads toward record after earnings show a return to sales growth Dec. 18, 2020 at 4:32 p.m. We think you are in {country}. And though Under Armour raised its full-year earnings targets on the back … Whisky’s Pandemic Immunity: Macallan Breaks Launch Record With $2 Million In Orders At Prestige Drinks Retailer Le Clos, Q&A With Moncler’s Remo Ruffini, On Stone Island Partnership, 2021 And Beyond. These cookies allow us to improve the site’s functionality by tracking usage on this website. In some cases these cookies improve the speed with which we can process your request, allow us to remember site preferences you’ve selected. NIKE annual revenue for 2020 was $37.403B, a 4.38% decline from 2019. Do you accept these cookies and the processing of personal data involved? I am a contributor to Forbes.com, The Robin Report and a member of the BrainTrust for RetailWire. Nike shares, as of Tuesday’s market close, have climbed more than 17% this year. Nike said revenues from its direct-to-consumer division amounted to $11.8 billion in fiscal 2019, fueled by a 35% jump in online sales and same-store sales growth of 6%. On Thursday, the brand had closed at a record-high of $88.01 USD, increasing 32 percent from last … Nike’s ability to speak to the current global sociocultural environment builds its deep emotion with its core customer base. Sales results from lululemon in Q3 and Nike’s Q2 results are very strong relative to the current retail environment. In the ad, Nike reminds us all of what we are capable of achieving, a timely message that struck a chord with its global customers. To get more information or amend your preferences, press the ‘more information’ button or visit "Cookie Settings" at the bottom of the website. Social media and advertising cookies of third parties are used to offer you social media functionalities and personalized ads. (Photo Illustration by Mateusz Slodkowski/SOPA Images/LightRocket via Getty Images), Nike’s second-quarter results delivered a 9% increase over last year for the same time period. There is strong demand coming from … November apparel and accessories store sales were down 19.2%, however, Nike has been able to buck ... [+] this sales trend. From Fashion Institute of Technology, Chief strategy Officer at the Robin Report and of! Your preference by visiting the `` Cookie Settings '' at the bottom of the page tailor advertising to your networks. 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