Nike Inc's quarterly revenue and profit beat Wall Street expectations on Tu...
) quarterly revenue and profit beat Wall Street expectations on Tuesday as a push to sell sneakers and apparels to consumers through its own stores and online retailers gained pace, boosting margins and sending its shares up 6%.
It has also launched pop-up stores that cater to “sneakerheads” or loyal fans of the brand in several big U.S. cities in an effort to build a strong relationship with its customers and gain market share. Nike has been spending more in marketing after revenue hit $10 billion a quarter this year and as it grew faster than rival Adidas in Europe and China.
Revenue in North America, its biggest market, rose 3.6% to $4.29 billion, while sales from its digital platform, which includes apps and websites, grew 42%.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Planet Inc—climate change and the risks to businessHow should business respond to a warming planet? Listen to The Economist’s “Money talks” podcast
Read more »
Serena Williams on what she's learned from working with NikeSerena Williams' venture fund aims to be inclusive and fund startups with diverse founders. It has already invested in more than 30 companies.
Read more »
Nike shares hit all-time high as new products drive sales, earnings top expectationsNike on Tuesday reported quarterly earnings and sales that topped analysts' expectations, as investments it's made to sell more directly to customers showed signs of paying off.
Read more »
Watch this level in Lululemon's stock as fellow athleisure giant Nike reportsLululemon's stock could pull back soon, but that will be a buying opportunity, says Ari Wald, head of technical analysis at Oppenheimer.
Read more »
Nike traders bet the athleisure stock will climb 8% in the next monthAs Nike warms up for its next earnings report, traders are betting on a near-term boost for the sportswear stock.
Read more »
Three before you leave — What to watch for in the market Tuesday, including trade deals and NikeHere are the most important things to know about Tuesday before you hit the door including earnings from Nike and likely updates on Trump's trade deals.
Read more »