- June 25, 2021
- Posted by: Stratford Team
- Category: Business
Check out what’s clicking on FoxBusiness.com.
Nike Inc. posted record quarterly sales, topping $12 billion for the first time in its history, on pent-up U.S. consumer demand for sneakers and sportswear this spring.
Revenue in the May ended quarter nearly doubled to $12.34 billion from $6.31 billion a year ago, when sales were depressed by the spread of COVID-19. Nike’s direct sales — those items ordered through its apps, websites or own stores — climbed 73% to $4.5 billion.
NIKE PARTNERING WITH CUSTOMS AND BORDER PROTECTION TO STOP COUNTERFEIT GOODS
Shares jumped 12% in after-hours trading, as the sales and profits were better than Wall Street had forecast. Nike’s net income was $1.5 billion, compared with a net loss of $790 million in the year-ago quarter.
Ticker Security Last Change Change %NKE NIKE, INC. 133.60 +0.50 +0.38%
“These are times when strong brands can get stronger, and each quarter, this reality becomes even more clear,” said CEO…
