US$11.4bn revenue for Nike in Q2

Worldwide
Published:  21 December, 2021
Credit: Nike

The footwear and sportswear brand has reported its second quarter fiscal 2022 results with US$11.4 billion of revenue, up 1% year-on-year.

Direct sales were US$4.7 billion for the period, up 9%, while digital sales increased by 12% led by 40% growth in North America. Gross margin increased to 45.9% and diluted earnings per share for the quarter was US$0.83, up 6%.

Revenues for Converse were US$557 million for the second quarter, up 16% on a currency-neutral basis, led by strong performance across all channels in Europe and North America.

Demand creation expense was US$1 billion, up 40%, which the company attributes to the normalisation of spend against brand campaigns and continued investment in digital marketing to match the associated demand.

Matt Friend, Executive Vice President and Chief Financial Officer at Nike, said: “Our second quarter results reflect our deep consumer connections, the continued strength of our brands and strong marketplace demand. As we navigate through short-term supply challenges, we are focused on executing our Consumer Direct Acceleration strategy to fuel our long-term financial outlook.”