Nike: net profits up 12% in 2nd quarter

(CercleFinance.com) - On Friday evening, Nike published an increase in net profits of 12% to 1.
3 billion dollars for its second quarter 2020-21, representing 78 cents per share, an EPS considerably outstripping analysts' average estimates.

The sportswear giant has seen a 0.9 point downgrade in its gross margins to 43.1%, with more intense promotional activities and restructuring costs, but its revenues increased 9% to 11.2 billion dollars (+7% excluding exchange differences).

“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 group specified.

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