Nike, Inc., the American sportswear giant, has witnessed its second quarter revenue go up by 1 per cent year-over-year to US $ 11.4 billion.
The retailer, in a statement released to media, said that gross margin rose by 45.9 per cent, while diluted earnings went up by 6 per cent during the said period.
The direct sales shot up by 9 per cent on a reported basis to clock US $ 4.7 billion, while the same was 8 per cent up on a currency-neutral basis.
Nike’s digital sales, during the quarter, rose by 12 per cent – importantly, led by 40 per cent growth in North America.
Buoyed by the impressive Q2 results, John Donahoe, President and CEO, Nike, Inc., said that Nike was now in a much stronger competitive position than it was 18 months back.
The revenues for Nike in Greater China slumped due to lower levels of available inventory resulting from frequent factory closures. However, its performance in North America and EMEA region showed growth owing to higher levels of in-transit inventory entering the second quarter.
Nike, which was founded in 1964, is globally the largest supplier of athletic shoes and apparels, with revenue in excess of US $ 37.4 billion in 2020.
Also Read: US sportswear retailer Nike’s Q1 revenue rises by 12% to US $ 12.2 billion
