The company’s earnings and revenue topped expectations due to growth in the digital business. “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. Additionally, lower marketing expenses during sporting events boosted overall results. (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. 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 … 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. Returns as of 12/19/2020. 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. All rights reserved (About Us). 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. See additional information in the accompanying Divisional Revenues table regarding this non-GAAP financial measure. 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 … 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. Nike's fiscal second-quarter earnings and sales topped analysts' expectations, as the sneaker maker reported strong digital growth. NIKE, Inc. (NYSE:NKE) today reported fiscal 2020 financial results for its second quarter ended November 30, 2019. 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 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. The leading sports apparel retailer is likely to have witnessed sales growth in the quarter under review. ANNOUNCES SECOND QUARTER FISCAL 2021 EARNINGS AND CONFERENCE CALL." During its FY20 fourth quarter, NIKE, Inc. temporarily suspended share repurchase activity in March to maximize liquidity during the COVID-19 pandemic. Second quarter reported revenues were … In the final minutes of trading on Friday, shares hit $140.04, an increase of 39% in the last 12 months. Eleven analysts surveyed by Zacks expected $10.55 billion. 20 mins Nike (NKE) 2nd Quarter Earnings: What to Expect Nasdaq . Nike's fiscal second-quarter earnings unexpectedly rose as the pandemic delivered another huge boost to its digital sales.Nike stock rose late. Visible Alpha. 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. Nike Inc. on Friday reported fiscal second-quarter net income of $1.25 billion. Revenue increased to $10.3 billion in the second quarter… 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. These costs were slightly offset by disciplined expense management. The athletic apparel maker posted revenue of $11.24 billion in the period, which also topped Street forecasts. Company accelerates growth in digital sales and Greater China sales. X Nike Earnings. 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. Nike's margins during its fiscal fourth quarter shrank to 37.3% from 45.5% a year ago. For more information, NIKE, Inc.’s earnings releases and other financial information are available on the Internet at http://investors.nike.com. Management uses this non-GAAP financial measure when evaluating the Company's performance, including when making financial and operating decisions. 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. 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. Converse, a wholly-owned NIKE, Inc. subsidiary brand, designs, markets and distributes athletic lifestyle footwear, apparel and accessories. By Alan Farley. 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. TOTAL NIKE, INC. EARNINGS BEFORE INTEREST AND TAXES1, TOTAL NIKE, INC. INCOME BEFORE INCOME TAXES. The Beaverton, Oregon-based company said it had net income of 78 cents per share. 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. © 2020 Advance Local Media LLC. Following the news release, NIKE management will host a conference call beginning at 2:00 p.m. PT to review results. 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. The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of Advance Local. BEAVERTON, Ore., Dec. 18, 2020 — 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. Updated Dec 14, 2020. Nike Inc. (NYSE:NKE) released its results for the second quarter of fiscal 2021 on Dec. 18 after the market closed. Nike Inc. on Friday reported fiscal second-quarter net income of $1.25 billion. 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. 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. 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. 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. (NKE Quick Quote NKE - Free Report) is slated to release second-quarter fiscal 2021 results on Dec 18. 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. Subscribe to OregonLive. 12/19/2019. 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). 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. The results beat Wall Street expectations. (971) 473-3143, Media Contact: 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. NIKE, Inc. Reports Fiscal 2020 Second Quarter Results. The fiscal second quarter runs from September through November, a … 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. NIKE, Inc. (NYSE:NKE) today reported fiscal 2021 financial results for its second quarter ended November 30, 2020. 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. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of 63 cents per share. Nike shares have increased 38% since the beginning of the year, while the Standard & Poor’s 500 index has climbed 15%. Second quarter reported revenues … The leading sports apparel retailer … The Beaverton, Oregon-based company said it had net income … Dow component Nike, Inc. ( NKE) reports fiscal second quarter 2021 earnings on Dec. 18, with analysts … Individuals can also visit http://news.nike.com and follow @NIKE. Accessed Dec. 11, 2020. 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 BEAVERTON, Ore.--(BUSINESS WIRE)-- 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. 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, Key metrics The company, which is known for its athletic shoes […] NIKE, Inc. (NYSE:NKE) today reported fiscal 2021 financial results for its second quarter ended November 30, 2020. ... On the earnings call, Nike discussed staying with … Nike Receives Christmas Boost on Fiscal 2nd-Quarter Earnings Beat. The leading sports apparel retailer is likely to have witnessed sales growth in the quarter … 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. What this could mean for investors On average, Wall Street analysts are forecasting that Nike will report revenue … https://www.businesswire.com/news/home/20201218005683/en/, Investor Contact: In the Greater China region, Nike… 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 … 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. 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. ... 2020, 09:11pm EST. 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. 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. Nike shares are up over 30% in 2020. NIKE, Inc. (NYSE:NKE) today reported fiscal 2021 financial results for its second quarter ended November 30, 2020. 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