Nike Records $11.2 Billion in Revenue for Q2 of Fiscal 2021
Team Swoosh just keep on winning! Nike have announced a ginormous $11.2 billion in revenue for the second quarter of the fiscal 2021 year, which came to a close on November 30.
‘Nike’s strong results during a dynamic environment show the power of staying on the offense… Fuelled by compelling innovative product and global brand momentum, we continue to extend our leadership. Our strategy is working, and we are excited for what’s ahead,’ said Nike CEO and president John Donahoe, regarding the strong Q2 showing.
In another successful quarter for the Beaverton brand, the figures suggest an overall 9 per cent increase from the same period last year. The revenue growth was spurred by increased market activity in China, where a 24 per cent boost in sales was recorded.
ICYMI, Nike were forced to close the doors of some of their retail stores amid the COVID-19 pandemic, with other stores forced to operate with restrictions and reduced operating hours. The strong Q2 results prove that Nike’s efforts to boost online sales were a bona fide success.