Nike revenues up 16% for Q1 2022

Published:  30 September, 2021
Credit: Nike

The global sportswear brand has reported its first quarter results for the 2022 financial year, showing revenues of US$12.2 billion, a 16% rise on the previous year.

The company also saw digital sales on the Nike brand increase by 25% on a currency-neutral basis, while direct sales were also up 25% to US$4.7 billion.

Converse revenues came in at US$629 million, up 7% on a currency-neutral basis, driven primarily by direct sales performance in North America and Europe.

Nike returned around US$1.2 billion to shareholders in the first quarter of the financial year, including dividends of US$435 million and share repurchases of US$742 million.