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The Corona Pandemic Helped Nike Generate Significantly More Profits
The online shopping boom during the corona pandemic helped Nike generate significantly more profits in the most recent financial quarter.
Yazar: Tom Roberts
Yayınlanma: 23 Eylül 2020 00:47
Güncellenme: 19 Kasım 2024 17:01
The Corona Pandemic Helped Nike Generate Significantly More Profits
The online shopping boom during the corona pandemic helped Nike generate significantly more profits in the most recent financial quarter. In the three months to the end of August, the world's largest sporting goods manufacturer earned $ 1.5 billion, as the Adidas competitor announced. This corresponds to an increase of eleven percent year-on-year.
Nike's digital sales rose 82 percent. In China in particular, the group posted significantly more demand. Nevertheless, group-wide sales fell by just under one percent to $ 10.6 billion. Thanks to lower spending, the bottom line was that much more remained in the cash register than a year ago.
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