Nike: net profits grow 23% in 1st quarter
(CercleFinance.com) - Thursday evening, Nike published net profit growth of 23% to 1.
9 billion dollars for its first quarter of 2021-22, representing 1.16 dollars per share, for a gross margin improvement of 1.7 points to 46.5%.
The gross margin has benefited from an expanded margin in the Nike Direct business, the better mix of sales at full price, plus favourable currency exchange effects, which partly compensated the higher product costs ensuing mainly from the increase in transport costs.
The US sportswear giant saw its revenues go up 16% to 12.2 billion dollars (+12% excluding exchange differences), a progression bolstered in particular by the two-figure growth of Nike Direct in its main regions.
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9 billion dollars for its first quarter of 2021-22, representing 1.16 dollars per share, for a gross margin improvement of 1.7 points to 46.5%.
The gross margin has benefited from an expanded margin in the Nike Direct business, the better mix of sales at full price, plus favourable currency exchange effects, which partly compensated the higher product costs ensuing mainly from the increase in transport costs.
The US sportswear giant saw its revenues go up 16% to 12.2 billion dollars (+12% excluding exchange differences), a progression bolstered in particular by the two-figure growth of Nike Direct in its main regions.
Copyright (c) 2021 CercleFinance.com. All rights reserved.