• Loading stock data...
Monday, November 25, 2024

Nike Posts $11.4B in Q2 Revenue

Nike
Nike/Design: Alex Brooks

Nike reported $11.4 billion in second-quarter revenue on Monday, beating analysts’ estimates of $11.25 billion. 

Of its total revenue, Nike’s brand revenue accounted for $10.8 billion, with Converse revenue growing 16% to $557 million.

Digital sales were up 12% year-over-year, jumping 40% in North America. Nike’s footwear division recorded $6.8 billion in revenue, apparel reached $2.6 billion, and equipment hit $382 million.

The company’s revenue in China and APLA (Asia Pacific and Latin America) declined, reportedly due to smaller inventories caused by factory closures during the pandemic.

The retailer launched a number of initiatives during the quarter.

  • It announcedMind Sets,” a program aimed at helping users prioritize their mental health.
  • Following the reopening of its subcontractors, a Vietnamese government website said Nike plans to invest further in the country’s production.
  • The company unveiled a partnership with Dick’s Sporting Goods, linking the pair’s membership programs and eventually offering in-person workouts.
  • Nike filed a trademark hinting at metaverse sneakers.

What’s Next?

President and CEO John Donahoe said the company is “in a much stronger position today than we were 18 months ago.”

While still facing supply chain issues, Nike has already been busy in Q3. In just the last month, Nike asked the International Trade Commission to block imports of Adidas shoes for allegedly copying Nike’s technology, announced a full review of its media accounts, and acquired NFT producer RTFKT.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Can an Elite Women’s Soccer School Survive the New College Sports Moneyball?

Santa Clara faces an uphill battle in the new college sports landscape.
Nov 16, 2024; Washington, District of Columbia, USA; Washington Spirit forward Trinity Rodman (2) celebrates after defeating NJ/NY Gotham FC in a 2024 NWSL Playoffs semifinal match at Audi Field. Mandatory Credit:

The Washington Spirit’s Business Makeover Carried Them to the Finals

The team’s return to the NWSL championship looks a lot different from 2021.
Nov 18, 2023; Las Vegas, Nevada, USA; Williams Racing driver Logan Sargeant of the United States (2) during the Las Vegas Grand Prix at Las Vegas Strip Circuit.

F1 Grand Prix Upended Vegas Last Year. Stakes Are High for Its..

Stakes are high as F1 gears up for a successful second act.
Classic Football Shirts New York Pop-Up

Vintage Soccer Jerseys Have Found a Sweet Spot in the Lucrative U.S...

The money-making shirts are at the prime intersection of memorabilia and fashion.
podcast thumbnail mobile
Front Office Sports Today

How Non-Football Programs Are Surviving the NIL Era

0:00

Featured Today

Nov 13, 2024; New York, New York, USA; New York Knicks guard Josh Hart (3) reacts after fouling Chicago Bulls guard Coby White (not pictured) during the second half at Madison Square Garden.
opinion

NBA Ratings Rorschach Test: Buy the Dip

Was it the election? Too many threes? Lack of storylines?
November 15, 2024

Executive Decision: When Richard Nixon Named a College Football Champion

In 1969, the 37th president unilaterally named the winner of the season.
November 15, 2024

How Women’s Sports Could Change in the Next Trump Era

Under the president-elect, Title IX could change drastically.
Former President Donald Trump waves to the crowd as he exits the putting green with his aide Walt Nauta, left, during the final round of the LIV Golf Bedminster golf tournament at Trump National Bedminster on Sunday, Aug. 13, 2023.
opinion
November 9, 2024

Trump Win Puts Sports Back in the White House

With Trump back in the White House, sports get more political again.
Peloton Bike

Peloton Earnings Beat Expectations As It Still Loses Subscribers

Peloton tapped Peter Stern, former Ford executive and cofounder of Apple Fitness+, to be its new CEO.
A view of a Nike retail store in New York City.
August 15, 2024

Nike Shares Surge As Bill Ackman Invests, Igniting Turnaround Hopes

The billionaire hedge-fund executive holds significant influence in the market.
September 4, 2024

Under Armour Sells MapMyFitness Back to Founders 11 Years Later

The founders sold the tracking app to the apparel giant in 2013.
Sponsored

How UBS Crafts Impactful Partnerships Across Sports, Arts, and Culture

As UBS continues to expand its impressive array of sports and entertainment partnerships, the company solidifies its position as a leader in wealth management.
August 13, 2024

Federer’s On Brand Continues Surge, Challenging Sportswear Giants

Earnings weren’t all positive for On, causing a dip in its premarket stock price.
Peloton
May 2, 2024

Peloton Timeline: CEO Changes, Layoffs, Recalls, and Falling Stocks

The company has fallen from grace after roaring success in 2020.
October 18, 2023

Peloton To Bring Live Sports To Its Fitness Devices

NBA League Pass will be available to watch on Peloton devices.
August 10, 2023

Alternative Golf Venues Thriving ‘Off-Course’ By Attracting Younger Players

In 2022, 15.5 million people participated in off-course golf activities.