Nike sales skyrocket with consumers stepping out 🔥

Nike sales skyrocket with consumers stepping out 🔥

With global consumers starting to return to in-store shopping, brands on mainstreet are expected to have an outstanding second half of 2021. Nike’s quarterly earnings offered an early hint into just how exhilarating the party really is…

Quick look at the quarter:

  • Revenues of $12 billion, up 96% YoY — that’s some startup-level shit for a 40 year old shoe company!
  • E-commerce sales of $3 billion, up 41% YoY
  • 300 million global online customers
  • North America up 29% YoY, China up 17% — although that party was a bit dented coz of consumers boycotting western brands in between

Otherwise, Margins increased, profits improved, and management’s upbeat commentary on momentum sticking for the rest of the year helped Nike stock end last week up ~20%.

Big picture — retail that survived the ecommerce coup, and now COVID’s brutal assault, has been hardened into steel, set to thrive like never before.

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