Nike Sees a Recent Sales Boost in North America
Things are looking up for the brand.
Nike has posted a sales gain, having earned 60 cents a share for the latest quarter. The results count as over-performing as analysts predicted it would earn 50 cents and the effect from this is that shares have risen by nearly 4.4 percent by the end of Thursday. adidas has recently been gaining ground on Nike in terms of market share — even though Nike still claimed 35.9 percent of it, adidas has previously jumped from 6.3 percent in May 2016 to 11.3 percent in May 2017. This jump has left Nike investors worried but the rise may allay some fears.
Nike CEO Mark Parker stated, “Nike continues to create both near-term wins in today’s dynamic environment and a lasting foundation for future growth.” The statements came after the company also posted revenue growth, rising 5.3 percent and beating out the average estimate by reaching $8.68 billion USD.
The news comes just after Mark Parker explained the company’s deal with Amazon.
