Nike earnings and sales beat estimates, retailer books record revenue in North America
- Nike's fiscal fourth-quarter earnings and sales were fueled by record revenue in its largest market, North America.
- Digital sales were up 41% compared with the prior year, and rose 147% compared with the same period in 2019.
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Nike on Thursday reported fiscal fourth-quarter earnings and sales that topped analysts' estimates, fueled by record revenue in its largest market, North America.
Nike shares jumped more than 4% in after-hours trading.
Here's how the company did during its fiscal fourth quarter, compared with what analysts were anticipating, using Refinitiv estimates:
- Earnings per share: 93 cents vs. 51 cents expected
- Revenue: $12.34 billion vs. $11.01 billion expected
Nike's net income for the period ended May 31 rose to $1.5 billion, or 93 cents per share, compared with a loss of $790 million, or 51 cents per share, a year earlier. That topped analysts' forecast of 51 cents per share, using Refinitiv data.
Total revenue rose to $12.34 billion from $6.31 billion a year earlier, topping estimates for $11.01 billion.
In North America, Nike's biggest market, sales more than doubled to a record $5.38 billion as the company surged from a year earlier when the Covid pandemic was hitting the retail industry the hardest. The region's sales were up 29% on a two-year basis.
Digital sales were up 41% compared with the prior year, and rose 147% compared with the same period in 2019.
Find the full earnings press release from Nike here.
This story is developing. Please check back for updates.
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