‘Pivotal’ year brings big revenue increase for Nike
Sports group Nike has reported its results for its most recent fiscal year, the 12-month period ending on May 31, 2021.
It reported revenues for the year of $44.5 billion, an increase of 19% year on year. Net profits were $5.7 billion, up by 126%.
Nike-branded goods brought in $42.3 billion, with $2.2 billion from Converse. Of the Nike brand revenues, $28 billion came from footwear sales, $12.8 billion from apparel and a little under $1.4 billion from equipment. These figures meant these categories recorded growth of 20%, 17% and 8% respectively.
These results prompted chief executive, John Donahoe, to describe this most recent period as being “a pivotal year” for Nike because the brand had manged to bring its direct-to-consumer strategy to life.
