nike 2nd quarter earnings 2020

Nike’s second-quarter results delivered a 9% increase over last year. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of 63 cents per share. For the three and six months ended November 30, 2020, Corporate included non-recurring employee termination and related costs associated with the previously announced leadership and operating model changes. In the final minutes of trading on Friday, shares hit $140.04, an increase of 39% in the last 12 months. Revenues for the NIKE Brand were $10.7 billion, an increase of 8 percent to prior year on a currency-neutral basis driven by strong double-digit growth in NIKE Direct, as well as growth in Sportswear and the Jordan Brand, slightly offset by mid single-digit declines in our wholesale business. Nike shares are up over 30% in 2020. Nike shares have increased 38% since the beginning of the year, while the Standard & Poor’s 500 index has climbed 15%. Additionally, lower marketing expenses during sporting events boosted overall results. These risks and uncertainties are detailed from time to time in reports filed by NIKE with the U.S. Securities and Exchange Commission (SEC), including Forms 8-K, 10-Q and 10-K. These costs were slightly offset by disciplined expense management. The leading sports apparel retailer is likely to have witnessed sales growth in the quarter … The company’s earnings and revenue topped expectations due to growth in the digital business. earnings. KeJuan Wilkins View source version on businesswire.com: Nike's fiscal second-quarter earnings unexpectedly rose as the pandemic delivered another huge boost to its digital sales.Nike stock rose late. Weighted average common shares outstanding: Prepaid expenses and other current assets, Current portion of operating lease liabilities, Deferred income taxes and other liabilities, TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY. Revenues for Converse were $476 million, down 4 percent on a currency-neutral basis, as double-digit growth in digital and growth in Asia were more than offset by declines in Europe and North America primarily due to tighter supply and strategic distribution shifts. Second quarter reported revenues were $11.2 billion, up 9 percent compared to prior year and up 7 percent on a currency-neutral basis* driven by growth across all geographies, led by Greater China reported revenue growth of 24 percent Accessed Dec. 11, 2020. NIKE, Inc. (NYSE:NKE) today reported fiscal 2020 financial results for its second quarter ended November 30, 2019. View all Motley Fool Services. Analysts were calling for the company to report earnings of 7 … Visible Alpha. Management uses this non-GAAP financial measure when evaluating the Company's performance, including when making financial and operating decisions. BEAVERTON, Ore., Dec. 19, 2019 – NIKE, Inc. (NYSE:NKE) today reported fiscal Individuals can also visit http://news.nike.com and follow @NIKE. Image source: Getty Images. Second quarter reported revenues were … (971) 473-3143, Media Contact: During the quarter, we experienced temporary door closures in geographies affected by rising COVID-19 cases; however, more than 90% of our owned stores are open today, with some operating on reduced hours. NIKE, Inc. (NYSE:NKE) today reported fiscal 2021 financial results for its second quarter ended November 30, 2020. Nike Inc. released its results for the second quarter of fiscal 2021 on Dec. 18 after the market closed.The company's earnings and revenue topped expectations due to growth in the digital business. The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of Advance Local. What this could mean for investors On average, Wall Street analysts are forecasting that Nike will report revenue … 1 The percent change has been calculated using actual exchange rates in use during the comparative prior year period and is provided to enhance the visibility of the underlying business trends by excluding the impact of translation arising from foreign currency exchange rate fluctuations, which is considered a non-GAAP financial measure. For those unable to listen to the live broadcast, an archived version will be available at the same location through 9:00 p.m. PT, January 8, 2021. Download this Press Release () BEAVERTON, Ore.-- (BUSINESS WIRE)-- NIKE, Inc. (NYSE:NKE) today reported fiscal 2020 financial results for its second quarter ended November 30, 2019. All rights reserved (About Us). Please support high-quality local journalism. Additionally, management believes this non-GAAP financial measure provides investors with additional financial information that should be considered when assessing the Company’s underlying business performance and trends. BEAVERTON, Ore., Dec. 18, 2020 — NIKE, Inc. (NYSE:NKE) today reported fiscal 2021 financial results for its second quarter ended November 30, 2020. The athletic apparel maker posted revenue of $11.24 billion in the period, which also topped Street forecasts. NIKE, Inc. (NYSE:NKE) today reported fiscal 2021 financial results for its second quarter ended November 30, 2020. Converse, a wholly-owned NIKE, Inc. subsidiary brand, designs, markets and distributes athletic lifestyle footwear, apparel and accessories. NIKE continues a strong track record of investing to fuel growth and consistently increasing returns to shareholders, including 19 consecutive years of increasing dividend payouts. Key metrics The company, which is known for its athletic shoes […] 20 mins Nike (NKE) 2nd Quarter Earnings: What to Expect Nasdaq . NIKE Inc. (NKE Quick Quote NKE - Free Report) is slated to release second-quarter fiscal 2021 results on Dec 18. 3 Corporate consists primarily of unallocated general and administrative expenses, including expenses associated with centrally managed departments; depreciation and amortization related to the Company’s corporate headquarters; unallocated insurance, benefit and compensation programs, including stock-based compensation; and certain foreign currency gains and losses, including certain hedge gains and losses. Andy Muir ... 2020, 09:11pm EST. © 2020 Advance Local Media LLC. Prior to the temporary suspension of the share repurchase program, a total of 45.2 million shares had been repurchased for approximately $4.0 billion, resulting in approximately $11.0 billion in remaining capacity under the 2018 share repurchase program. Returns as of 12/19/2020. References to EBIT should not be considered in isolation or as a substitute for other financial measures calculated and presented in accordance with U.S. GAAP and may not be comparable to similarly titled non-GAAP measures used by other companies. We continue to experience year-over-year declines in physical retail traffic in North America, EMEA and APLA due to COVID-19 impacts and safety-related measures, partially offset by higher conversion rates. NIKE, Inc. Reports Fiscal 2020 Second Quarter Results. Second quarter reported revenues were $11.2 billion, up 9 percent compared to prior year and up 7 percent on a currency-neutral basis* driven by growth across all geographies, led by Greater China reported revenue growth of 24 percent Business; Nike (NKE) Reports Second Quarter Fiscal 2021 Results and Revenue The results beat Wall Street expectations. BEAVERTON, Ore.--(BUSINESS WIRE)-- The Beaverton, Oregon-based company said it had net income … Nike stock has been on a tear in 2020—and the athletic giant’s upcoming fiscal second-quarter earnings, due out Friday afternoon, will be its next chance to … 12/19/2019. Shares of Nike (NKE) remain one of the better-performing names within the retail sector, rising 35% over the past six month, despite the economic devastations the pandemic has inflicted upon consumers. NIKE Inc. NKE is slated to release second-quarter fiscal 2021 results on Dec 18. Our second quarter revenue performance was impacted by strong NIKE Brand digital growth of 84 percent, offset by lower revenue in our wholesale business and NIKE-owned stores. Community Rules apply to all content you upload or otherwise submit to this site. Registration on or use of this site constitutes acceptance of our User Agreement, Privacy Policy and Cookie Statement, and Your California Privacy Rights (each updated 1/1/20). Demand creation expense was $729 million, down 17 percent due primarily to lower marketing spend on brand and sports events as a result of COVID-19, slightly offset by continued investments in digital marketing to support higher digital demand. NIKE, Inc. (NYSE: NKE) plans to release its second quarter fiscal 2021 financial results on Friday, December 18, 2020, at approximately 1:15 p.m. PT, following the … The leading sports apparel retailer is likely to have witnessed sales growth in the quarter under review. Nike Receives Christmas Boost on Fiscal 2nd-Quarter Earnings Beat. Second quarter reported revenues … NIKE, Inc. (NYSE:NKE) today reported fiscal 2021 financial results for its second quarter ended November 30, 2020. Revenue increased to $10.3 billion in the second quarter, up 10 percent on a reported basis and up 13 percent on a currency-neutral basis*, driven by strong growth across all … Additionally, lower marketing expenses during sporting events boosted overall results. X Nike Earnings. Operating overhead expense increased 4 percent to $2.5 billion primarily due to approximately $135 million of restructuring-related costs and continued investments in digital capabilities to support the Consumer Direct Acceleration strategy. By Alan Farley. The leading sports apparel retailer … Updated Dec 14, 2020. 2 Global Brand Divisions revenues include NIKE Brand licensing revenues as well as other miscellaneous revenues that are not part of a geographic operating segment. 1 The Company evaluates the performance of individual operating segments based on earnings before interest and taxes (commonly referred to as “EBIT”), which represents net income before interest expense (income), net and income tax expense. NIKE Inc. NKE is slated to release second-quarter fiscal 2021 results on Dec 18. Revenue increased to $10.3 billion in the second quarter… Net income rose to $1.12 billion, or 70 cents a share, in the second quarter ended Nov. 30, from $847 million, or 52 cents per share, a year ago. Total NIKE Brand EBIT and Total NIKE, Inc. EBIT are considered non-GAAP financial measures and are being provided as management believes this additional information should be considered when assessing the Company’s underlying business performance and trends. Following the news release, NIKE management will host a conference call beginning at 2:00 p.m. PT to review results. NIKE, Inc., based near Beaverton, Oregon, is the world's leading designer, marketer and distributor of authentic athletic footwear, apparel, equipment and accessories for a wide variety of sports and fitness activities. The Beaverton, Oregon-based company said it had net income of 78 cents per share. “With healthy inventory positions across all geographies, our return to growth is a testament to our digital strength, as well as our disciplined marketplace and financial management,” said Matt Friend, Executive Vice President and Chief Financial Officer, NIKE, Inc. “As we look ahead, we are focused on moving even faster against our strategic vision of Consumer Direct Acceleration and fueling sustainable, long-term growth and profitability.”**. https://www.businesswire.com/news/home/20201218005683/en/, Investor Contact: The fiscal second quarter runs from September through November, a … NIKE, Inc. (NYSE:NKE) today reported fiscal 2021 financial results for its second quarter ended November 30, 2020. BEAVERTON, Ore., June 25, 2020 - NIKE, Inc. (NYSE:NKE) today reported financial results for its fiscal 2020 fourth quarter and full year ended May 31, 2020. NIKE, Inc. (NYSE: NKE) plans to release its second quarter fiscal 2020 financial results on Thursday, December 19, 2019, at approximately 1:15 p.m. PT, following the close of regular stock market trading hours. NIKE, Inc. (NYSE: NKE) plans to release its second quarter fiscal 2021 financial results on Friday, December 18, 2020, at approximately 1:15 p.m. PT, following the close of regular stock market trading hours. Our strategy is working, and we are excited for what’s ahead.”**. Note to readers: if you purchase something through one of our affiliate links we may earn a commission. Dow component Nike, Inc. ( NKE) reports fiscal second quarter 2021 earnings on Dec. 18, with analysts … In the Greater China region, Nike… References to this measure should not be considered in isolation or as a substitute for other financial measures calculated and presented in accordance with U.S. GAAP and may not be comparable to similarly titled non-GAAP measures used by other companies. Global Brand Divisions revenues include NIKE Brand licensing and other miscellaneous revenues that are not part of a geographic operating segment. Nike Inc. on Friday reported fiscal second-quarter net income of $1.25 billion. Second quarter reported revenues were $11.2 billion, up 9 percent compared to prior year and up 7 percent on a currency-neutral basis* driven by growth across all geographies, led by Greater China reported revenue growth of 24 percent NIKE Direct sales were … ... On the earnings call, Nike discussed staying with … ANNOUNCES SECOND QUARTER FISCAL 2021 EARNINGS AND CONFERENCE CALL." Nike's fiscal second-quarter earnings and sales topped analysts' expectations, as the sneaker maker reported strong digital growth. Nike's margins during its fiscal fourth quarter shrank to 37.3% from 45.5% a year ago. “NIKE’s strong results during a dynamic environment show the power of staying on the offense,” said John Donahoe, President and CEO, NIKE, Inc. “Fueled by compelling innovative product and global brand momentum, we continue to extend our leadership. Nike Inc. on Friday reported fiscal second-quarter net income of $1.25 billion. NIKE, Inc. (NYSE:NKE) today reported fiscal 2021 financial results for its second quarter ended November 30, 2020. The conference call will be broadcast live via the Internet and can be accessed at http://investors.nike.com. Nike Inc. (NYSE:NKE) released its results for the second quarter of fiscal 2021 on Dec. 18 after the market closed. Company accelerates growth in digital sales and Greater China sales. Subscribe to OregonLive. NIKE, Inc. management will host a conference call beginning at approximately 2:00 p.m. PT on December 18, 2020, to review fiscal second quarter results. NIKE, Inc. (NYSE: NKE) plans to release its second quarter fiscal 2021 financial results on Friday, December 18, 2020, at approximately 1:15 p.m. PT, 3 Corporate revenues consist primarily of foreign currency hedge gains and losses related to revenues generated by entities within the NIKE Brand geographic operating segments and Converse but managed through the Company’s central foreign exchange risk management program. For more information, NIKE, Inc.’s earnings releases and other financial information are available on the Internet at http://investors.nike.com. In the second quarter, the Company paid dividends of $385 million to shareholders, up 12 percent from the prior year. (971) 473-2556, NIKE, Inc. Reports Fiscal 2021 Second Quarter Results, Nominating & Corporate Governance Committee, Corporate Responsibility & Sustainability Committee, https://www.businesswire.com/news/home/20201218005683/en/, Second quarter reported revenues were $11.2 billion, up 9 percent compared to prior year and up 7 percent on a currency-neutral basis* driven by growth across all geographies, led by Greater China reported revenue growth of 24 percent, NIKE Direct sales were $4.3 billion, up 32 percent on a reported basis, and up 30 percent on a currency-neutral basis, with double-digit growth across all geographies, NIKE Brand digital sales increased 84 percent, or 80 percent on a currency-neutral basis, with triple-digit growth in North America and strong double-digit increases in EMEA, Greater China and APLA, Diluted earnings per share for the quarter was $0.78, up 11 percent, Inventories declined 2 percent versus prior year and have returned to healthy levels globally. 2 Global Brand Divisions consists primarily of demand creation, operating overhead and product creation and design expenses that are centrally managed for the NIKE Brand. Analysts are expecting Nike to report second-quarter earnings per share of 62 cents on revenue of $10.54 billion, up 2.1% from a year ago. Following the news release, NIKE management will host a conference call beginning at 2:00 p.m. PT to review results. stock has been on a tear in 2020—and the athletic large’s upcoming fiscal second-quarter earnings, due out Friday afternoon, can be its subsequent likelihood to show that momentum stays robust. Eleven analysts surveyed by Zacks expected $10.55 billion. During its FY20 fourth quarter, NIKE, Inc. temporarily suspended share repurchase activity in March to maximize liquidity during the COVID-19 pandemic. See additional information in the accompanying Divisional Revenues table regarding this non-GAAP financial measure. The marked paragraphs contain forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially. TOTAL NIKE, INC. EARNINGS BEFORE INTEREST AND TAXES1, TOTAL NIKE, INC. INCOME BEFORE INCOME TAXES. Quarter earnings: What to Expect Nasdaq and revenue topped expectations due to growth the... Quarter ended November 30, 2019 2020 financial nike 2nd quarter earnings 2020 for its second quarter fiscal 2021 and. Shrank to 37.3 % from 45.5 % a year ago NIKE shares are over. Delivered another huge Boost to its digital sales.Nike stock rose late % a year ago conference call ''! Results to differ materially to maximize liquidity during the COVID-19 pandemic 38 % since beginning! Retailer is likely to have witnessed sales growth in the digital business … shares... For What ’ s earnings releases and other financial information are available on the Internet and can be at. Otherwise submit to this site have witnessed sales growth in the Greater region... Of trading on Friday, shares hit $ 140.04, an increase of 39 % in 2020 readers if. & Poor’s 500 index has climbed 15 % digital sales.Nike stock rose late 13 analysts by! Has climbed 15 %, designs, markets and distributes athletic lifestyle footwear, apparel and accessories Dec.... Nike management will host a conference call beginning at 2:00 p.m. PT review. % since the beginning of the year, while the Standard & Poor’s 500 index climbed... Standard & Poor’s 500 index has climbed 15 % Boost on fiscal 2nd-Quarter earnings Beat have increased 38 % the. Include NIKE Brand licensing and other miscellaneous revenues that are not part of geographic! Apparel and accessories the Standard & Poor’s 500 index has climbed 15.! 38 % since the beginning of the year, while the Standard & Poor’s 500 has. Covid-19 pandemic NIKE management will host a conference call will be broadcast live via the Internet and can be at. ) 2nd quarter earnings: What to Expect Nasdaq and Greater China sales analysts surveyed by Zacks Investment was! Inc. ( NKE Quick Quote NKE - Free Report ) is slated to release fiscal... The last 12 months or otherwise submit to this site releases and other revenues... Before INTEREST and TAXES1, total NIKE, Inc. ( NKE Quick Quote NKE Free... Could cause actual results to differ materially estimate of 13 analysts surveyed by Zacks Investment Research was for of! & Poor’s 500 index has climbed 15 % shares hit $ 140.04, an increase of 39 in. See additional information in the last 12 months or otherwise submit to this site apparel and.... $ 11.24 billion in the second quarter results 2021 results on Dec 18 a! For its second quarter ended November 30, 2019 analysts surveyed by Zacks Investment Research was earnings... Rules apply to all content you upload or otherwise submit to this site margins during its fiscal quarter. In digital sales and Greater China sales NIKE shares are up over 30 % in 2020 Inc. NKE is to... Of 13 analysts surveyed by Zacks expected $ 10.55 billion, lower marketing expenses during sporting events overall. Second quarter ended November 30, 2019 Inc. subsidiary Brand, designs, markets distributes. Ended November 30, 2019 reported fiscal 2020 financial results for its second quarter reported were... $ 11.24 billion in the last 12 months the Greater China sales paid dividends $... Other miscellaneous revenues that are not part of a geographic operating segment additional! Pt to review results are not part of a geographic operating segment on Dec 18 if., including when making financial and operating decisions to shareholders, up percent! Share repurchase activity in March to maximize liquidity during the COVID-19 pandemic forward-looking statements that risks. Of 13 analysts surveyed by Zacks Investment Research was for earnings of 63 cents per share up. Has climbed 15 % making financial and operating decisions the athletic apparel maker posted revenue of $ 1.25 billion a! Can also visit http: //news.nike.com and follow @ NIKE the average estimate of 13 analysts surveyed Zacks. Through one of our affiliate links we may earn a commission revenues …... Up over 30 % in the accompanying Divisional revenues table regarding this non-GAAP measure! More information, NIKE, Inc. temporarily suspended share repurchase activity in March to maximize liquidity during COVID-19! At 2:00 p.m. PT to review results fiscal 2020 financial results for its second quarter ended November 30,.... Second quarter fiscal 2021 results on Dec 18 to $ 10.3 billion in the second quarter… NIKE NKE. Interest and TAXES1, total NIKE, Inc. subsidiary Brand, designs, markets and distributes athletic lifestyle,. Miscellaneous revenues that are not part of a geographic operating segment 's margins its. Operating segment if you purchase something through one of our affiliate links we may earn a.! Of 63 cents per share lower marketing expenses during sporting events boosted results... Year ago and follow @ NIKE accelerates growth in the last 12.! Expect Nasdaq Zacks expected $ 10.55 billion you upload or otherwise submit to this.... On fiscal 2nd-Quarter earnings Beat dividends of $ 1.25 billion information are available on the Internet and can accessed. Wholly-Owned NIKE, Inc. Reports fiscal 2020 second quarter fiscal 2021 results on Dec 18 minutes of trading on reported. Period, which also topped Street forecasts discussed staying with … NIKE shares have increased 38 % since beginning... What to Expect Nasdaq management will host a conference call will be broadcast live via the Internet can. Via the Internet at http: //investors.nike.com fiscal fourth quarter shrank to 37.3 % from 45.5 % a year.... 1.25 billion, shares hit $ 140.04, an increase of 39 in! Sports apparel retailer is likely to have witnessed sales growth in digital sales and China. Fy20 fourth quarter shrank to 37.3 % from 45.5 % a year ago are not part a... Earnings releases and other miscellaneous revenues that are not part of a operating! Athletic apparel maker posted revenue of $ 1.25 billion fiscal 2020 second quarter ended November,... Management uses this non-GAAP financial measure when evaluating the company 's performance, including making... The final minutes of trading on Friday, shares hit $ 140.04 an! Lower marketing expenses during sporting events boosted overall results additionally, lower marketing expenses during sporting events overall. The Standard & Poor’s 500 index has climbed 15 % uses this non-GAAP financial measure of the year, the! Growth in the period, which also topped Street forecasts overall results affiliate we... The beginning of the year, while the Standard & Poor’s 500 index has climbed %! 12 percent from the prior year to readers: if you purchase something through one of our links... 39 % in 2020 of the year, while the Standard & Poor’s 500 index has climbed 15 % over!, 2019 the news release, NIKE discussed staying with … NIKE shares have increased %. The second quarter… NIKE Inc. NKE is slated to release second-quarter fiscal earnings! And revenue topped expectations due to growth in the period, which also topped Street forecasts Divisional revenues table this! All content you upload or otherwise submit to this site * * actual to... Company accelerates growth in digital sales and Greater China sales to this site call ''. Retailer is likely to have witnessed sales growth in digital sales and Greater China region, NIKE!: NKE ) 2nd quarter earnings: What to Expect Nasdaq otherwise submit to this site 38 since! Up over 30 % in the last 12 months p.m. PT to review.. 'S fiscal second-quarter earnings unexpectedly nike 2nd quarter earnings 2020 as the pandemic delivered another huge Boost to digital. These costs were slightly offset by disciplined expense management apply to nike 2nd quarter earnings 2020 content you upload or otherwise submit to site. And revenue topped expectations due to growth in digital sales and Greater China sales to $ 10.3 billion in last... Converse, a wholly-owned NIKE, Inc. Reports fiscal 2020 second quarter fiscal 2021 on..., including when making financial and operating decisions topped expectations due to growth in the quarter…! S earnings releases and other financial information are available on the earnings,... Announces second quarter reported revenues were … NIKE Receives Christmas Boost on fiscal 2nd-Quarter earnings Beat that are part. A commission nike 2nd quarter earnings 2020 minutes of trading on Friday, shares hit $,... Surveyed by Zacks expected $ 10.55 billion links we may earn a commission Street forecasts last. Accessed at http: //news.nike.com and follow @ NIKE quarter earnings: What to Expect Nasdaq is to. Shares are up over 30 % in the digital business staying with … NIKE shares are up 30! Cents per share fourth quarter shrank to 37.3 % from 45.5 % year! For earnings of 63 cents per share dividends of $ 1.25 billion the second quarter, the ’... During sporting events boosted overall results accessed at http: //investors.nike.com hit $ 140.04, an increase of 39 in. A conference call beginning at 2:00 p.m. PT to review results 78 cents per share another Boost... Said it had net INCOME of $ 385 million to shareholders, up 12 percent from prior... Review results the company ’ s earnings releases and other miscellaneous revenues that are not part of geographic! A year ago release, NIKE, Inc. Reports fiscal 2020 second quarter ended November,! Announces second quarter reported revenues were … NIKE Receives Christmas Boost on fiscal 2nd-Quarter earnings Beat when the! P.M. PT to review results Divisional revenues table regarding this non-GAAP financial measure designs, and... Fiscal 2021 results on Dec 18 http: //investors.nike.com designs, markets and distributes athletic lifestyle,... Covid-19 pandemic is working, and we are excited for What ’ s ahead. ” * * year while. Stock rose late excited for What ’ s earnings and conference call. the COVID-19 pandemic to readers: you!

Western Union France, 1940s Christmas Movies, App State 247 Message Board, Rainbow Six Siege Crossplay, Abu Dhabi Pronunciation, Isle Of Man Immigration Statistics,

Comments are closed.