Nike Continues Digital Push, Growth in China

    • Digital sales increased 84% in the second quarter of Nike’s 2021 fiscal year.
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Nike’s digital push has helped to sustain the sportswear giant through the pandemic.

The company’s digital sales increased 84% in the second quarter of its 2021 fiscal year, marking the third-straight quarter they have increased more than 80% year-over-year. In North America, digital sales had triple-digit growth.

“Digital is the new normal in consumer behavior and we believe the trends we’re seeing are here to stay,” Nike CEO John Donahoe said on a conference call.

Nike’s Q2 Overview:

  • Revenue up 9% to $11.2 billion
  • Net income up 12% to $1.3 billion
  • North American revenues up 1% to $4.0 billion

Foot traffic remains well below what it was last year at Nike-owned stores despite 90% of them being opened during the quarter.

Nike has looked to increase its foothold in China, where it is seeing the most growth globally. Revenue in the region was up 24% to $2.3 billion.

On Singles Day, the annual shopping holiday in China that falls on Nov. 11, Nike gained 4 million new shoppers and totalled more than $500 million in digital sales.

Nike shares are up 34.3% overall in 2020.