Nike reports fourth quarter and full year of fiscal 2020
Nike reports fourth quarter and full year of fiscal 2020. During an epidemic, this is not enough to do.Analysts expected Naik to recover faster than other brands as COVID-19 store closures. After the initial outbreak in China, Nike claimed that their increased digital communications and targeted store reopening playbook would save the company from massive losses as the virus hit the U.S. Spreads through.
Nike digital sales grew 75 percent in the fourth quarter, or 79 percent on a currency-neutral basis, with strong double-digit growth across all geographies and nearly 30 percent of total revenue.
For the fiscal year, Greater China's revenue grew 8 percent or 11 percent on a currency-neutral basis, marking double-digit currency-neutral growth for the sixth consecutive year for the second consecutive year of headwinds from COVID-19. is.
But yesterday ... Nike reported that its revenue fell 38% to $ 6.3 billion in fiscal Q4. According to Bloomberg, Nike has the worst quarter since 2013. Nike also lost $ 790 million from last year's $ 989 million profit. And E-Com was not enough. Online sales grew 75%, but they were able to extract only 30% of Nike's total revenue. Gross margin declined to 37.3% from 45.5% last year due to canceled bulk orders and expenses related to customer returns.
Nike's stock fell on Friday in reaction; Shares of fellow sneaker vendors Skechers and Foot Locker also declined.
My Way: A reminder of Nike's income reminds us that brands with strong quarantine-friendly products and strong online channels can also suffer without their physical stores.
Revenue for the Nike brand was $ 9.8 billion, up 12 percent on a currency-neutral basis, driven by growth by Wholesale and Nike Direct; Major categories including Sportswear, Jordan Brand and Running, and continued growth in footwear and apparel.
The revenge for the conversion was $ 480 million, up 15 percent on a currency-neutral basis, with double-digit growth primarily in Asia and Europe, as well as digitally globally.
Gross margin increased by 20 basis points, partially offset by a partial difference in product prices due to higher selling prices and margin expansion at NIKE Direct and Convergence, primarily due to incremental charges in North America. Increased by 20 basis points.
Nike, Inc. Inventory for K was $ 6.2 billion, up 15 percent from the previous year, due to strong consumer demand globally as well as higher rates of on-time factory deliveries and, to a lesser extent, the impact from changes in overseas. Currency Exchange Rate.
Cash and equivalent and short-term investments were $ 3.5 billion, $ 539 million less than the previous year, as investments in infrastructure, shares and infrastructure exceeded income offset by net income.
During the second quarter, NIKE, Inc. Has repurchased 10.1 million shares for approximately $ 922 million as a four-year, $ 15 billion program approved by the board of directors in June 2018. As of November 30, 2019, a total of 33.6 million. The shares were purchased under the program for approximately $ 2.9 billion.
