Digital Sales Helped Stabilise Nike’s Q1 2021 Results
Nike have reported their financial results for Q1 2021, which ended on August 31. While they were initially projected to lose $3.5 billion in Q4 2020 due to the effects of the global pandemic, the Swoosh appear to have bounced back, posting revenues of $10.6 billion this past quarter. This puts them essentially level against the same period last year.
Digital sales grew 82 per cent, with double-digit growth in key regions like North America, Greater China, Asia Pacific and Latin America (APLA), and even triple-digit stats in the Europe, Middle East, and Africa (EMEA) regions. While most of Nike’s physical stores across the globe were still open over Q1, reduced foot traffic meant sales were being converted online.
It seems Nike SNKRS usage is up, and is likely to continue growing. So, read up on SF’s tips to get the most out of the app here.
Take a deep dive into Nike’s entire Q1 2021 results here.