{"id":27667,"date":"2020-10-22T14:00:09","date_gmt":"2020-10-22T14:00:09","guid":{"rendered":"https:\/\/www.ceo-na.com\/?p=27667"},"modified":"2020-10-22T19:42:59","modified_gmt":"2020-10-22T19:42:59","slug":"nikes-earnings-crushed-estimates","status":"publish","type":"post","link":"http:\/\/servidor-mxigen1.com\/ceona-antiguo\/news\/nikes-earnings-crushed-estimates\/","title":{"rendered":"<Nike's earnings crushed estimates>"},"content":{"rendered":"<p class=\"ArticleHeader-headline\">Nike shares soar 13% as online sales jump 82% and rebound in China.<\/p>\n<p><!--more--><\/p>\n<p>Nike&#8217;s earnings crushed estimates as\u00a0digital sales jumped 82% and sales in China rose 6%, it said, while revenue in North America, Nike\u2019s largest market, was down 2%, however, the North American sales of $4.23 billion were still ahead of analysts\u2019 predictions for $3.39 billion as\u00a0demand are grow amid the next holiday season.<\/p>\n<p>According to CNBC, the company has used the\u00a0pandemic\u00a0as an opportunity to accelerate its digital business, and its women\u2019s apparel division grew nearly 200%. As parents stocked up on back-to-school items,\u00a0and its business picked back up\u00a0in key markets like China,\u00a0Nike said its Jordan brand is looking \u201cstronger than ever.\u201d\u00a0The biggest sneaker-maker in the U.S. has been investing in its website, mobile apps and owned stores, as more consumers are steering clear of department stores and shopping malls.\u00a0Nike shares as of Tuesday\u2019s market close are up about 15% year to date. The company has a market cap of $182.5 billion.<\/p>\n<p><a href=\"https:\/\/www.businessinsider.com\/nike-shares-hit-record-high-digital-sales-rise-82-2020-9?r=MX&amp;IR=T\">Business Insider adds<\/a> that Nike&#8217;s total quarterly clothing sales fell 8% from last year, and its equipment sales dropped by 17%. The only product category to see an overall rise was footwear, with a 4% increase in revenue. These figures were all a significant improvement from the quarter that ended on May 31, when sales plummeted by 35% for footwear, 42% for clothing, and 53% for equipment compared with the same period in 2019.<\/p>\n<p>\u201cWe know that digital is the new normal. The consumer today is digitally grounded and simply will not revert back,\u201d CEO John Donahoe said during an earnings conference call.\u00a0\u201cNike is recovering faster based on accelerating brand momentum and digital growth,\u201d said CFO Matt Friend.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Nike shares soar 13% as online sales jump 82% and  [&#8230;]<\/p>\n","protected":false},"author":8,"featured_media":27668,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1338],"tags":[99,1385,1170,3379,69,1492],"class_list":["post-27667","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-ceo","tag-ceo-northam","tag-nike","tag-pandemic","tag-retail","tag-sales"],"_links":{"self":[{"href":"http:\/\/servidor-mxigen1.com\/ceona-antiguo\/wp-json\/wp\/v2\/posts\/27667","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/servidor-mxigen1.com\/ceona-antiguo\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/servidor-mxigen1.com\/ceona-antiguo\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/servidor-mxigen1.com\/ceona-antiguo\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"http:\/\/servidor-mxigen1.com\/ceona-antiguo\/wp-json\/wp\/v2\/comments?post=27667"}],"version-history":[{"count":3,"href":"http:\/\/servidor-mxigen1.com\/ceona-antiguo\/wp-json\/wp\/v2\/posts\/27667\/revisions"}],"predecessor-version":[{"id":27671,"href":"http:\/\/servidor-mxigen1.com\/ceona-antiguo\/wp-json\/wp\/v2\/posts\/27667\/revisions\/27671"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/servidor-mxigen1.com\/ceona-antiguo\/wp-json\/wp\/v2\/media\/27668"}],"wp:attachment":[{"href":"http:\/\/servidor-mxigen1.com\/ceona-antiguo\/wp-json\/wp\/v2\/media?parent=27667"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/servidor-mxigen1.com\/ceona-antiguo\/wp-json\/wp\/v2\/categories?post=27667"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/servidor-mxigen1.com\/ceona-antiguo\/wp-json\/wp\/v2\/tags?post=27667"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}