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The global fashion business journal

Jan 24, 20208:58pm

Nike grows by 10% and widens its profit by 32% in the second quarter

The American sportswear company has ended the second quarter of its fiscal year with a turnover of 10.3 billion dollars, up 10% year-on-year.

 

Dec 20, 2019 — 4:00pm
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Nike grows by 10% and widens its profit by 32% in the second quarter

 

 

Nike continues on the rise. The American sportswear company has ended the second quarter of its fiscal year with a turnover of 10.3 billion dollars. The group’s profit in the three months ended November 30 was 1.1 billion dollars, up 32% compared to the same period on the previous year.

 

The company’s ebidta stood at 1.2 billion dollars, up 25% year-on-year. The increase in the turnover of the company has been “driven by strategic and targeted investment in our digital transformation.” 

 

 

 

 

“As we deliver a relentless flow of innovation and scale Nike’s digital advantage, we are positioned for even greater competitive separation and long-term shareholder value creation,” stated Mark Parker, president and chief executive officer of the company, in a press release.

 

China has led Nike’s growth in the second quarter. The company has boosted by 23% its sales in the region. In its local market, the group has increased its profit by 5%, while in Europe, the company’s revenue grew by 8%.

 

Apparel has been once again the one that led Nike’s business during the period, up 18%. Footwear and equipment, meanwhile, have grown 8% and 14%, respectively.

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