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Who won the Olympics? I'm talking about the shoe manufacturers, not the athletes. If you look at the medal tally from all running events, of all distances and the triathlon, but exclude the field events, then Nike had 10 times the number of gold medals to its nearest competitor, and five times the total medal count to the nearest rival Adidas. The medal tally info was gathered by Bartold Clinical, an online sports medicine education platform with a focus on the lower limb and athletic footwear.
To celebrate all the wonderful sport happening at the moment, I thought I would feature this cool story about a pair of track spikes, handmade by Nike co-founder Bill Bowerman, which could fetch $1.2 million at an auction.
Nike released blockbuster fourth-quarter numbers and the sneaker King printed record revenues in its biggest market, North America, where sales more than double to $5.38 billion. The Nike share price liked the news and is up 14.1% in early trade. This reverses Nike's 5.9% Dow index underperformance year-to-date.
I read an analyst report yesterday which described the athletic equipment business as being "on fire right now". In other words, sporting gear is selling well. More than ever, people need to get outdoors and get some exercise.
Nike reported its third quarter numbers last week. They beat expectations on earnings but missed on revenue. The company has always reported outside of the traditional 'earnings season', giving us a teaser of what is to come when the rest of the market starts to report in the middle of April.
Sneakers have gone from being used as utility gear for different sports, like basketball and running, to being collectable items. This goes as far back as 1985, when Nike dropped the iconic Air Jordan 1s, a shoe that helped put Nike on the map when it comes to the sneaker game.
According to the most recent quarterly numbers, Nike's direct-to-consumer business made $3.7 billion, up 12% year-on-year, thanks to a 82% rise in online sales. This was all revenue that used to go via third-party retailers like Zappos, Dillard's, Belk, Boscov, Bob's Stores, Fred Meyer, EBLens, VIM, and City Blue, of which Nike no longer does business.
According to a recent survey, Nike remains the top apparel brand amongst teens for the 10th consecutive year. Piper Sandler's "Taking Stock with Teens" found that Nike strengthened its lead by 4% this year. They now have a 27% share of a very competitive market.
Nike had quarterly results out last night after the closing bell, and they were very good. Analysts expected sales for the 3-month period ending on 31 August to be $9.1 billion with earnings per share of 44 cents. Instead, they came in with sales of $10.6 billion and earnings of 95 cents per share.
Today I have a report for you from website Footwear News. Huh, who even knew that such an important source existed!
The most prominent athletic brand, Nike, reported its quarterly numbers for the fourth quarter ending in May. As expected the numbers were hard hit by the pandemic. The Portland, Oregon-based sneaker and athleisure giant reported a larger loss than expected.
Last night Nike released their third quarter numbers. Of course, that was during a completely different era. The PreCorona era. But they did give some updates on recent trends.
Nike has been on a roll lately, cresting $100 a share level and generally exceeding its sales and profit goals. In elite athletic running shoes they are totally dominant at the moment, and have just leapt forward again with the launch of the new Nike Air Zoom Alphafly NEXT%. If you haven't seen them yet, click here. Wow!
On Tuesday Nike announced that they had signed a multi-year deal with UK football club, Liverpool. I don't really follow football, but even I know that Liverpool has been dominating the UK and European leagues for the last two years.
We normally celebrate when two of our recommended stocks collaborate. Unfortunately today I am reporting a breakup between Nike and Amazon. Remember in 2017 Nike started a pilot page on Amazon after years of resistance. Nike was always worried that they would lose control of the retail experience, client data and most importantly, product quality (many counterfeit items get sold online).