nike 2nd quarter earnings 2020

Shares of Nike (NKE) remain one of the better-performing names within the retail sector, rising 35% over the past six month, despite the economic devastations the pandemic has inflicted upon consumers. Nike Inc. released its results for the second quarter of fiscal 2021 on Dec. 18 after the market closed.The company's earnings and revenue topped expectations due to growth in the digital business. The leading sports apparel retailer is likely to have witnessed sales growth in the quarter under review. View all Motley Fool Services. The marked paragraphs contain forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially. NIKE, Inc. (NYSE:NKE) today reported fiscal 2020 financial results for its second quarter ended November 30, 2019. Second quarter reported revenues … NIKE, Inc. (NYSE: NKE) plans to release its second quarter fiscal 2021 financial results on Friday, December 18, 2020, at approximately 1:15 p.m. PT, following the … Following the news release, NIKE management will host a conference call beginning at 2:00 p.m. PT to review results. Nike’s second-quarter results delivered a 9% increase over last year. Dow component Nike, Inc. ( NKE) reports fiscal second quarter 2021 earnings on Dec. 18, with analysts … View source version on businesswire.com: BEAVERTON, Ore., June 25, 2020 - NIKE, Inc. (NYSE:NKE) today reported financial results for its fiscal 2020 fourth quarter and full year ended May 31, 2020. 3 Corporate consists primarily of unallocated general and administrative expenses, including expenses associated with centrally managed departments; depreciation and amortization related to the Company’s corporate headquarters; unallocated insurance, benefit and compensation programs, including stock-based compensation; and certain foreign currency gains and losses, including certain hedge gains and losses. Nike stock has been on a tear in 2020—and the athletic giant’s upcoming fiscal second-quarter earnings, due out Friday afternoon, will be its next chance to … The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of Advance Local. NIKE, Inc. Reports Fiscal 2020 Second Quarter Results. earnings. The leading sports apparel retailer … 1 The Company evaluates the performance of individual operating segments based on earnings before interest and taxes (commonly referred to as “EBIT”), which represents net income before interest expense (income), net and income tax expense. 20 mins Nike (NKE) 2nd Quarter Earnings: What to Expect Nasdaq . Revenues for Converse were $476 million, down 4 percent on a currency-neutral basis, as double-digit growth in digital and growth in Asia were more than offset by declines in Europe and North America primarily due to tighter supply and strategic distribution shifts. NIKE, Inc. (NYSE:NKE) today reported fiscal 2021 financial results for its second quarter ended November 30, 2020. Demand creation expense was $729 million, down 17 percent due primarily to lower marketing spend on brand and sports events as a result of COVID-19, slightly offset by continued investments in digital marketing to support higher digital demand. 3 Corporate revenues consist primarily of foreign currency hedge gains and losses related to revenues generated by entities within the NIKE Brand geographic operating segments and Converse but managed through the Company’s central foreign exchange risk management program. These costs were slightly offset by disciplined expense management. The results beat Wall Street expectations. These risks and uncertainties are detailed from time to time in reports filed by NIKE with the U.S. Securities and Exchange Commission (SEC), including Forms 8-K, 10-Q and 10-K. By Alan Farley. Second quarter reported revenues were … Revenue increased to $10.3 billion in the second quarter, up 10 percent on a reported basis and up 13 percent on a currency-neutral basis*, driven by strong growth across all … Individuals can also visit http://news.nike.com and follow @NIKE. In the final minutes of trading on Friday, shares hit $140.04, an increase of 39% in the last 12 months. Revenues for the NIKE Brand were $10.7 billion, an increase of 8 percent to prior year on a currency-neutral basis driven by strong double-digit growth in NIKE Direct, as well as growth in Sportswear and the Jordan Brand, slightly offset by mid single-digit declines in our wholesale business. https://www.businesswire.com/news/home/20201218005683/en/, Investor Contact: “NIKE’s strong results during a dynamic environment show the power of staying on the offense,” said John Donahoe, President and CEO, NIKE, Inc. “Fueled by compelling innovative product and global brand momentum, we continue to extend our leadership. Global Brand Divisions revenues include NIKE Brand licensing and other miscellaneous revenues that are not part of a geographic operating segment. Image source: Getty Images. 2 Global Brand Divisions revenues include NIKE Brand licensing revenues as well as other miscellaneous revenues that are not part of a geographic operating segment. Converse, a wholly-owned NIKE, Inc. subsidiary brand, designs, markets and distributes athletic lifestyle footwear, apparel and accessories. Operating overhead expense increased 4 percent to $2.5 billion primarily due to approximately $135 million of restructuring-related costs and continued investments in digital capabilities to support the Consumer Direct Acceleration strategy. The leading sports apparel retailer is likely to have witnessed sales growth in the quarter … Nike shares have increased 38% since the beginning of the year, while the Standard & Poor’s 500 index has climbed 15%. Updated Dec 14, 2020. NIKE continues a strong track record of investing to fuel growth and consistently increasing returns to shareholders, including 19 consecutive years of increasing dividend payouts. The Beaverton, Oregon-based company said it had net income of 78 cents per share. NIKE, Inc., based near Beaverton, Oregon, is the world's leading designer, marketer and distributor of authentic athletic footwear, apparel, equipment and accessories for a wide variety of sports and fitness activities. TOTAL NIKE, INC. EARNINGS BEFORE INTEREST AND TAXES1, TOTAL NIKE, INC. INCOME BEFORE INCOME TAXES. Registration on or use of this site constitutes acceptance of our User Agreement, Privacy Policy and Cookie Statement, and Your California Privacy Rights (each updated 1/1/20). All rights reserved (About Us). Additionally, management believes this non-GAAP financial measure provides investors with additional financial information that should be considered when assessing the Company’s underlying business performance and trends. Accessed Dec. 11, 2020. 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. For those unable to listen to the live broadcast, an archived version will be available at the same location through 9:00 p.m. PT, January 8, 2021. Nike's fiscal second-quarter earnings and sales topped analysts' expectations, as the sneaker maker reported strong digital growth. Download this Press Release () BEAVERTON, Ore.-- (BUSINESS WIRE)-- NIKE, Inc. (NYSE:NKE) today reported fiscal 2020 financial results for its second quarter ended November 30, 2019. The company’s earnings and revenue topped expectations due to growth in the digital business. Nike's margins during its fiscal fourth quarter shrank to 37.3% from 45.5% a year ago. BEAVERTON, Ore., Dec. 18, 2020 — NIKE, Inc. (NYSE:NKE) today reported fiscal 2021 financial results for its second quarter ended November 30, 2020. Nike Inc. (NYSE:NKE) released its results for the second quarter of fiscal 2021 on Dec. 18 after the market closed. stock has been on a tear in 2020—and the athletic large’s upcoming fiscal second-quarter earnings, due out Friday afternoon, can be its subsequent likelihood to show that momentum stays robust. Nike Inc. on Friday reported fiscal second-quarter net income of $1.25 billion. Our strategy is working, and we are excited for what’s ahead.”**. KeJuan Wilkins Nike Receives Christmas Boost on Fiscal 2nd-Quarter Earnings Beat. Weighted average common shares outstanding: Prepaid expenses and other current assets, Current portion of operating lease liabilities, Deferred income taxes and other liabilities, TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY. For the three and six months ended November 30, 2020, Corporate included non-recurring employee termination and related costs associated with the previously announced leadership and operating model changes. Prior to the temporary suspension of the share repurchase program, a total of 45.2 million shares had been repurchased for approximately $4.0 billion, resulting in approximately $11.0 billion in remaining capacity under the 2018 share repurchase program. Business; Nike (NKE) Reports Second Quarter Fiscal 2021 Results and Revenue BEAVERTON, Ore., Dec. 19, 2019 – NIKE, Inc. (NYSE:NKE) today reported fiscal X Nike Earnings. References to EBIT should not be considered in isolation or as a substitute for other financial measures calculated and presented in accordance with U.S. GAAP and may not be comparable to similarly titled non-GAAP measures used by other companies. Net income rose to $1.12 billion, or 70 cents a share, in the second quarter ended Nov. 30, from $847 million, or 52 cents per share, a year ago. Visible Alpha. 1 The percent change has been calculated using actual exchange rates in use during the comparative prior year period and is provided to enhance the visibility of the underlying business trends by excluding the impact of translation arising from foreign currency exchange rate fluctuations, which is considered a non-GAAP financial measure. Second quarter reported revenues were $11.2 billion, up 9 percent compared to prior year and up 7 percent on a currency-neutral basis* driven by growth across all geographies, led by Greater China reported revenue growth of 24 percent NIKE Direct sales were … We continue to experience year-over-year declines in physical retail traffic in North America, EMEA and APLA due to COVID-19 impacts and safety-related measures, partially offset by higher conversion rates. In the second quarter, the Company paid dividends of $385 million to shareholders, up 12 percent from the prior year. Nike shares are up over 30% in 2020. 12/19/2019. Andy Muir See additional information in the accompanying Divisional Revenues table regarding this non-GAAP financial measure. References to this measure should not be considered in isolation or as a substitute for other financial measures calculated and presented in accordance with U.S. GAAP and may not be comparable to similarly titled non-GAAP measures used by other companies. ... 2020, 09:11pm EST. Note to readers: if you purchase something through one of our affiliate links we may earn a commission. Our second quarter revenue performance was impacted by strong NIKE Brand digital growth of 84 percent, offset by lower revenue in our wholesale business and NIKE-owned stores. BEAVERTON, Ore.--(BUSINESS WIRE)-- The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of 63 cents per share. Following the news release, NIKE management will host a conference call beginning at 2:00 p.m. PT to review results. NIKE, Inc. (NYSE:NKE) today reported fiscal 2021 financial results for its second quarter ended November 30, 2020. Eleven analysts surveyed by Zacks expected $10.55 billion. The fiscal second quarter runs from September through November, a … For more information, NIKE, Inc.’s earnings releases and other financial information are available on the Internet at http://investors.nike.com. Second quarter reported revenues were $11.2 billion, up 9 percent compared to prior year and up 7 percent on a currency-neutral basis* driven by growth across all geographies, led by Greater China reported revenue growth of 24 percent ANNOUNCES SECOND QUARTER FISCAL 2021 EARNINGS AND CONFERENCE CALL." Returns as of 12/19/2020. Subscribe to OregonLive. In the Greater China region, Nike… NIKE Inc. NKE is slated to release second-quarter fiscal 2021 results on Dec 18. Analysts were calling for the company to report earnings of 7 … Additionally, lower marketing expenses during sporting events boosted overall results. Total NIKE Brand EBIT and Total NIKE, Inc. EBIT are considered non-GAAP financial measures and are being provided as management believes this additional information should be considered when assessing the Company’s underlying business performance and trends. Nike's fiscal second-quarter earnings unexpectedly rose as the pandemic delivered another huge boost to its digital sales.Nike stock rose late. Community Rules apply to all content you upload or otherwise submit to this site. The Beaverton, Oregon-based company said it had net income … Company accelerates growth in digital sales and Greater China sales. Management uses this non-GAAP financial measure when evaluating the Company's performance, including when making financial and operating decisions. Revenue increased to $10.3 billion in the second quarter… NIKE, Inc. (NYSE: NKE) plans to release its second quarter fiscal 2021 financial results on Friday, December 18, 2020, at approximately 1:15 p.m. PT, During its FY20 fourth quarter, NIKE, Inc. temporarily suspended share repurchase activity in March to maximize liquidity during the COVID-19 pandemic. NIKE Inc. (NKE Quick Quote NKE - Free Report) is slated to release second-quarter fiscal 2021 results on Dec 18. NIKE, Inc. management will host a conference call beginning at approximately 2:00 p.m. PT on December 18, 2020, to review fiscal second quarter results. ... On the earnings call, Nike discussed staying with … The conference call will be broadcast live via the Internet and can be accessed at http://investors.nike.com. What this could mean for investors On average, Wall Street analysts are forecasting that Nike will report revenue … NIKE, Inc. (NYSE:NKE) today reported fiscal 2021 financial results for its second quarter ended November 30, 2020. Please support high-quality local journalism. Nike Inc. on Friday reported fiscal second-quarter net income of $1.25 billion. NIKE, Inc. (NYSE:NKE) today reported fiscal 2021 financial results for its second quarter ended November 30, 2020. © 2020 Advance Local Media LLC. NIKE, Inc. (NYSE: NKE) plans to release its second quarter fiscal 2020 financial results on Thursday, December 19, 2019, at approximately 1:15 p.m. PT, following the close of regular stock market trading hours. NIKE Inc. NKE is slated to release second-quarter fiscal 2021 results on Dec 18. Second quarter reported revenues were $11.2 billion, up 9 percent compared to prior year and up 7 percent on a currency-neutral basis* driven by growth across all geographies, led by Greater China reported revenue growth of 24 percent (971) 473-3143, Media Contact: Key metrics The company, which is known for its athletic shoes […] 2 Global Brand Divisions consists primarily of demand creation, operating overhead and product creation and design expenses that are centrally managed for the NIKE Brand. Analysts are expecting Nike to report second-quarter earnings per share of 62 cents on revenue of $10.54 billion, up 2.1% from a year ago. Additionally, lower marketing expenses during sporting events boosted overall results. NIKE, Inc. (NYSE:NKE) today reported fiscal 2021 financial results for its second quarter ended November 30, 2020. “With healthy inventory positions across all geographies, our return to growth is a testament to our digital strength, as well as our disciplined marketplace and financial management,” said Matt Friend, Executive Vice President and Chief Financial Officer, NIKE, Inc. “As we look ahead, we are focused on moving even faster against our strategic vision of Consumer Direct Acceleration and fueling sustainable, long-term growth and profitability.”**. The athletic apparel maker posted revenue of $11.24 billion in the period, which also topped Street forecasts. NIKE, Inc. (NYSE: NKE) plans to release its second quarter fiscal 2021 financial results on Friday, December 18, 2020, at approximately 1:15 p.m. PT, following the close of regular stock market trading hours. (971) 473-2556, NIKE, Inc. Reports Fiscal 2021 Second Quarter Results, Nominating & Corporate Governance Committee, Corporate Responsibility & Sustainability Committee, https://www.businesswire.com/news/home/20201218005683/en/, Second quarter reported revenues were $11.2 billion, up 9 percent compared to prior year and up 7 percent on a currency-neutral basis* driven by growth across all geographies, led by Greater China reported revenue growth of 24 percent, NIKE Direct sales were $4.3 billion, up 32 percent on a reported basis, and up 30 percent on a currency-neutral basis, with double-digit growth across all geographies, NIKE Brand digital sales increased 84 percent, or 80 percent on a currency-neutral basis, with triple-digit growth in North America and strong double-digit increases in EMEA, Greater China and APLA, Diluted earnings per share for the quarter was $0.78, up 11 percent, Inventories declined 2 percent versus prior year and have returned to healthy levels globally. 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