Nike Reports Increase in Revenue to $10.9 Billion USD in Q3 of Fiscal 2022

Sales overall saw great percentage increase in direct sales and brand digital sales.

Fashion 
2,418 Hypes 2 Comments

Nike has officially released its fiscal 2022 third-quarter earnings. Q3, which ended on February 28, 2022, saw Nike hit revenues of $10.9 billion USD, a 5% increase compared to the previous year.

Sales at Nike continued to show a strong trajectory upwards with Nike Direct sales hitting $4.6 billion USD, up 15% on a reported basis and 17% on a currency-neutral basis. Nike’s Brand Digital sales also garnered a 19% increase which led to a 33% growth across North America. Gross margins jumped up to 46.6% while this quarter’s diluted earnings per share was $0.87 USD.

North America, APLA and EMEA saw double-digit growth, despite easing back normalcy post-pandemic. With traffic into Nike-owned physical retailers returning to steady growth, Nike stores saw sales go up 14%. The increase offset the declines seen in Greater China. Revenues for the Nike Brand hit $10.3 billion USD, 8% more than last year. Converse reported revenue of $567 million USD, 1% down on a reported basis. Though that was the case, it still saw a strong performance in North America and Europe to offset declines in Asia.

CEO of Nike John Donahoe said, “Nike’s strong results this quarter show that our Consumer Direct Acceleration strategy is working, as we invest to achieve our growth opportunities. Fueled by deep consumer connections, compelling product innovation and an expanding digital advantage, we have the right playbook to navigate volatility and create value through our relentless drive to serve the future of sport.” Shareholder returns were increased, citing 20 consecutive years of increased dividend payouts to shareholders. Dividends were up 12% from last year.

In case you missed it, Nike has released a special edition Air Force 1 High Vintage “Sail” inspired by the original ‘82 silhouette.

Read Full Article

What to Read Next

Supreme’s Parent Company VF Corp Reports $3.6 Billion USD Revenue in Q3
Fashion 

Supreme’s Parent Company VF Corp Reports $3.6 Billion USD Revenue in Q3

It also predicts that Supreme will rake in $600 million USD this year.

Apple Q1 2022 Revenue Increases to Record-Breaking $123.9 Billion USD Despite Supply Issues
Tech 

Apple Q1 2022 Revenue Increases to Record-Breaking $123.9 Billion USD Despite Supply Issues

Marking a profit jump to $34.6 billion USD during the holidays.

Meta Reports $3 Billion USD Loss for Its Virtual and Augmented Reality Division for Q1 2022
Tech 

Meta Reports $3 Billion USD Loss for Its Virtual and Augmented Reality Division for Q1 2022

The Metaverse is off to a rough start.


Apple Beats Expectations in Q2 With $97 Billion USD Revenue
Tech

Apple Beats Expectations in Q2 With $97 Billion USD Revenue

Wearables sales alone jumped nearly $3 billion USD.

Concept Renderings for the Apple iPhone 14 Pro Have Surfaced Online
Tech

Concept Renderings for the Apple iPhone 14 Pro Have Surfaced Online

Presenting the upcoming Apple iPhone 14 Pro in gold.

Nike Dunk Low Returns in a Dual Tone "Racer Blue" Iteration
Footwear

Nike Dunk Low Returns in a Dual Tone "Racer Blue" Iteration

Flipping the classic “Kentucky” color blocking.

Vitalik Buterin Covers First-Ever NFT Issue of 'TIME Magazine'
NFT

Vitalik Buterin Covers First-Ever NFT Issue of 'TIME Magazine'

The Ethereum co-founder is named “The Prince of Crypto.”

AJOBYAJO Taps 50s' Sex Symbol Marilyn Monroe in New Capsule
Fashion

AJOBYAJO Taps 50s' Sex Symbol Marilyn Monroe in New Capsule

In a lineup of T-shirts, sweatshirts, jackets, and jeans.

Yu-Gi-Oh! TCG Readies Speed Duel GX: Duel Academy Box and Midterm Paradox Mini Box Release
Gaming

Yu-Gi-Oh! TCG Readies Speed Duel GX: Duel Academy Box and Midterm Paradox Mini Box Release

Throwdown a facedown like you’re at Duelist Academy.


Christina Ricci Joins Cast of Netflix's 'Wednesday' Addams Series
Entertainment

Christina Ricci Joins Cast of Netflix's 'Wednesday' Addams Series

The actress played a young Wednesday Addams in the ’90s.

Drake Releases 'Top Boy' x Nike NOCTA Alien GORE-TEX Jacket
Fashion

Drake Releases 'Top Boy' x Nike NOCTA Alien GORE-TEX Jacket

Available exclusively via Netflix.

Kanye West Reportedly Updates 'DONDA 2' With New Verse From Fivio Foreign
Music

Kanye West Reportedly Updates 'DONDA 2' With New Verse From Fivio Foreign

The album is still currently only available on the YEEZY Stem Player.

Elevate Your Skincare Routine With Aesop's Exalted Eye Serum
Fashion

Elevate Your Skincare Routine With Aesop's Exalted Eye Serum

A potent lightweight serum enriched with Vitamins B, C and E.

Take an Official Look at the Nike Dunk Low "Graffiti"
Footwear

Take an Official Look at the Nike Dunk Low "Graffiti"

Coming complete with special packaging.

More ▾
 
Subscribe to our Newsletter

Gain access to exclusive interviews with industry creatives, think pieces, trend forecasts, guides and more.

By subscribing, you agree to our Terms of Use and Privacy Policy.

Looks like you’re using an ad-blocker

We charge advertisers instead of our readers. Support us by whitelisting our site.

Whitelist Us

How to Whitelist Us

screenshot
  1. Click the AdBlock icon in the browser extension area in the upper right-hand corner.
  2. Under “Pause on this site” click “Always”.
  3. Refresh the page or click the button below to continue.
screenshot
  1. Click the AdBlock Plus icon in the browser extension area in the upper right-hand corner.
  2. Block ads on – This website” switch off the toggle to turn it from blue to gray.
  3. Refresh the page or click the button below to continue.
screenshot
  1. Click the AdBlocker Ultimate icon in the browser extension area in the upper right-hand corner.
  2. Switch off the toggle to turn it from “Enabled on this site” to “Disabled on this site”.
  3. Refresh the page or click the button below to continue.
screenshot
  1. Click the Ghostery icon in the browser extension area in the upper right-hand corner.
  2. Click on the “Ad-Blocking” button at the bottom. It will turn gray and the text above will go from “ON” to “OFF”.
  3. Refresh the page or click the button below to continue.
screenshot
  1. Click the UBlock Origin icon in the browser extension area in the upper right-hand corner.
  2. Click on the large blue power icon at the top.
  3. When it turns gray, click the refresh icon that has appeared next to it or click the button below to continue.
screenshot
  1. Click the icon of the ad-blocker extension installed on your browser.You’ll usually find this icon in the upper right-hand corner of your screen. You may have more than one ad-blocker installed.
  2. Follow the instructions for disabling the ad blocker on the site you’re viewing.You may have to select a menu option or click a button.
  3. Refresh the page or click the button below to continue.