NIKE’s digital sales increase triple-digit in EMEA


September 23, 2020 | By RetailME Bureau

NIKE’s digital sales increase triple-digit in EMEA (Europe, Middle East and Africa), and double-digit across North America, Greater China and APLA (Asia-Pacific and Latin America). As the brand reported fiscal 2021 financial results for its first quarter ended August 31, 2020, NIKE’s digital sales increased 82%. NIKE’s first-quarter reported revenues stood at $10.6 billion, down 1% on a reported basis and flat compared to the prior year on a currency-neutral basis.

“Our results this quarter continue to demonstrate NIKE’s full competitive advantage, as we strengthen our position in the midst of disruption,” said John Donahoe, president and CEO, NIKE, Inc. “In this dynamic environment, no one can match our pace of launching innovative products and our brand’s deep connection to consumers. These strengths, coupled with our digital acceleration, are unlocking NIKE’s long-term market potential.”

The brand’s first-quarter revenue performance was boosted by strong NIKE Brand digital growth, offset by lower revenue in the wholesale business and NIKE-owned stores. Nearly all of the NIKE-owned physical doors were open during the quarter across North America, EMEA and Greater China with approximately 90% of doors open in APLA.

However, despite a majority of stores open in the quarter, NIKE continues to experience year-over-year declines in physical retail traffic across the marketplace due to COVID-19 impacts and safety-related measures, offset partially by higher conversion rates. As NIKE’s digital sales increase triple-digit in EMEA, the brand returned to growth of 5% on a reported basis. In Greater China, revenue increased by 6% on a reported basis and 8% on a currency-neutral basis, led by digital and NIKE Factory Stores.

“NIKE is recovering faster based on accelerating brand momentum and digital growth, as well as our relentless focus on normalising marketplace supply and demand,” added Matt Friend, executive vice president and chief financial officer, NIKE, Inc. “We continue to drive investment in capabilities that will fuel our consumer-led digital transformation, catalysing long-term growth and profitability for NIKE.”

 

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