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Digital growth delivers positive quarter for Nike

27/03/2020

Sports group Nike has announced revenues of $10.1 billion for the third quarter of its current fiscal year, the three months to February 29. This figure represents an increase of 5% year on year.

It said its results had been boosted by growth in its digital business of 36% and that this had offset the impact of Covid-19 on its sales in China during the quarter.

Nike said the impact it had suffered in China had been because of temporary store closures there; digital sales in the region were up by 30%.

Chief executive, John Donahoe, said the results reflected Nike’s “deep consumer connections, compelling product innovation and agile teams around the world”.