Comparator Community Mortgage Credit History Tests Spending Diary Tax Deduction Tutorial Comparator Community Investing Business Law Breaks Spending Diaries Calculators Travel Health & Medicine Tests Real Estate View All Investor News 4% after the second quarter report 21 December Nike reported for the second quarter of fiscal 2022. Despite supply problems, the results were slightly better than expected. On the postmarket, NKE shares rose by 4%, to 163 $. Compared to the second quarter of last year: revenue — $11.4 billion (+1%); gross profit — 5.2 billion (+8%); net profit — 1.3 billion (+7%). Supply chain disruptions and quarantined factories in Asia lead to clothing shortages, therefore, Nike's revenue has not changed much. On the other hand, retail and digital sales grew by 9 And 12%. Nike began shipping more retail items and less at discounts, where clothes are cheaper. Therefore, Nike's gross margin increased much more., than the total revenue. Here's how sales have changed in different regions: North America - $4.5 billion (+12%); Europe, Middle East and Africa — $3.1 billion (+6%); China — 1.8 billion (−20%); Asia-Pacific and Latin America — 1.3 billion (−8%). Revenue increased in North America and Europe, as Nike was able to partially solve the supply problem. In other regions, the shortage of goods still persists.. Sales fell the most in China, an important region in terms of future growth. Approximately half of Nike's products are made in Vietnam. Earlier, due to the outbreak of COVID-19, production in this country fell by more than 50%. According to Nike, now factories are working on 80%, and fully recovered in six months.. For this reason …
Nike shares rose by 4% after the second quarter report Read more