5 Things we Learnt from Nike’s Q2 Financial Report
Nike had a gigantic year in 2018. Alongside the release of the year's gnarliest silhouette, the Swoosh managed to weather Drake's mercurial moods, kneel with Colin Kaepernick and drop the most successful Air Jordan of all time.
Let's take a closer look at how the numbers stack up.
5. AIR CONTINUES TO GIVE NIKE HEIGHT
The VaporMax and Air Max 270 continue to provide Nike with reliable sales; the two silhouettes were again Nike’s most well-represented athletic footwear models. Lifestyle builds like the Air Max 95 and 97 had a huge year in 2018, with the momentum set to propel Nike’s latest conception: the Air Max 720. Expect ‘multiple iterations’ of the silhouette in early 2019.
4. SCALING THE REACT
The Nike React Element 87 took ‘Sneaker of the Year’ honours across the board. It’s not surprising then, that Nike are continuing to look at new ways of fuelling the idiosyncratic silhouette in 2019. The Element 55 and 87 will ‘scale significantly’ this year, with the inclusion of hybrids and a React 2.0.
3. NIKE FOR HER
Nike remains committed to their promise in delivering more footwear options for women. Spearheaded by the Sage Air Force 1 (no.1 in sales on nike.com for five weeks), sneakers for women was up 20% in the quarter.
2. JORDAN BRAND CLEARED FOR TAKEOFF
The Jordan Brand enjoyed double-digit growth in North America and internationally in Q2. With the Air Jordan 4 celebrating its 20th birthday in 2019, the Air Jordan 1 having perhaps its biggest year on record in 2019, and the AJ33 doing solid numbers, expect some more positive Jordan Brand results in Q3.
1. BY THE NUMBERS
Revenues for Nike, Inc. increased 10 percent to $9.4 billion.
Revenues for Converse were $425 million, up 6 percent.
Diluted earnings per share for the quarter were $0.52, an increase of 13 percent.
Revenue grew in nearly every key category led by Sportswear with well-balanced double-digit growth across footwear and apparel globally.