BUCKING THE TREND: Nike surges on strong earnings, revenue growth despite retail uncertainty
its quarterly earnings on Tuesday that showed the retail giant exceeding Wall Street expectations with growing revenue despite investor fears of an oncoming recession.
Net income for the period that ended Nov. 30 stood at $1.33 billion at $0.85 per share, which was similar to the prior year of $1.34 billion at $0.83 per share. "Nike's results this quarter are a testament to our deep connection with consumers," said John Donahoe, president and CEO of Nike, in a statement. "Our growth was broad-based and was driven by our expanding digital leadership and brand strength."
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