nike 2nd quarter earnings 2020

NIKE continues a strong track record of investing to fuel growth and consistently increasing returns to shareholders, including 19 consecutive years of increasing dividend payouts. NIKE, Inc., based near Beaverton, Oregon, is the world's leading designer, marketer and distributor of authentic athletic footwear, apparel, equipment and accessories for a wide variety of sports and fitness activities. Weighted average common shares outstanding: Prepaid expenses and other current assets, Current portion of operating lease liabilities, Deferred income taxes and other liabilities, TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY. NIKE, Inc. (NYSE:NKE) today reported fiscal 2021 financial results for its second quarter ended November 30, 2020. Shares of Nike (NKE) remain one of the better-performing names within the retail sector, rising 35% over the past six month, despite the economic devastations the pandemic has inflicted upon consumers. Second quarter reported revenues … earnings. Additionally, lower marketing expenses during sporting events boosted overall results. BEAVERTON, Ore.--(BUSINESS WIRE)-- Management uses this non-GAAP financial measure when evaluating the Company's performance, including when making financial and operating decisions. The leading sports apparel retailer is likely to have witnessed sales growth in the quarter … For the three and six months ended November 30, 2020, Corporate included non-recurring employee termination and related costs associated with the previously announced leadership and operating model changes. 12/19/2019. Nike Inc. released its results for the second quarter of fiscal 2021 on Dec. 18 after the market closed.The company's earnings and revenue topped expectations due to growth in the digital business. In the final minutes of trading on Friday, shares hit $140.04, an increase of 39% in the last 12 months. We continue to experience year-over-year declines in physical retail traffic in North America, EMEA and APLA due to COVID-19 impacts and safety-related measures, partially offset by higher conversion rates. Business; Nike (NKE) Reports Second Quarter Fiscal 2021 Results and Revenue © 2020 Advance Local Media LLC. Visible Alpha. “With healthy inventory positions across all geographies, our return to growth is a testament to our digital strength, as well as our disciplined marketplace and financial management,” said Matt Friend, Executive Vice President and Chief Financial Officer, NIKE, Inc. “As we look ahead, we are focused on moving even faster against our strategic vision of Consumer Direct Acceleration and fueling sustainable, long-term growth and profitability.”**. Please support high-quality local journalism. In the second quarter, the Company paid dividends of $385 million to shareholders, up 12 percent from the prior year. NIKE Inc. NKE is slated to release second-quarter fiscal 2021 results on Dec 18. KeJuan Wilkins For more information, NIKE, Inc.’s earnings releases and other financial information are available on the Internet at http://investors.nike.com. The fiscal second quarter runs from September through November, a … Second quarter reported revenues were … The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of 63 cents per share. These risks and uncertainties are detailed from time to time in reports filed by NIKE with the U.S. Securities and Exchange Commission (SEC), including Forms 8-K, 10-Q and 10-K. The Beaverton, Oregon-based company said it had net income … Demand creation expense was $729 million, down 17 percent due primarily to lower marketing spend on brand and sports events as a result of COVID-19, slightly offset by continued investments in digital marketing to support higher digital demand. NIKE, Inc. (NYSE: NKE) plans to release its second quarter fiscal 2020 financial results on Thursday, December 19, 2019, at approximately 1:15 p.m. PT, following the close of regular stock market trading hours. 3 Corporate revenues consist primarily of foreign currency hedge gains and losses related to revenues generated by entities within the NIKE Brand geographic operating segments and Converse but managed through the Company’s central foreign exchange risk management program. NIKE, Inc. Reports Fiscal 2020 Second Quarter Results. NIKE Inc. NKE is slated to release second-quarter fiscal 2021 results on Dec 18. References to EBIT should not be considered in isolation or as a substitute for other financial measures calculated and presented in accordance with U.S. GAAP and may not be comparable to similarly titled non-GAAP measures used by other companies. 2 Global Brand Divisions revenues include NIKE Brand licensing revenues as well as other miscellaneous revenues that are not part of a geographic operating segment. The company’s earnings and revenue topped expectations due to growth in the digital business. Nike shares have increased 38% since the beginning of the year, while the Standard & Poor’s 500 index has climbed 15%. Net income rose to $1.12 billion, or 70 cents a share, in the second quarter ended Nov. 30, from $847 million, or 52 cents per share, a year ago. Operating overhead expense increased 4 percent to $2.5 billion primarily due to approximately $135 million of restructuring-related costs and continued investments in digital capabilities to support the Consumer Direct Acceleration strategy. View all Motley Fool Services. The marked paragraphs contain forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially. NIKE, Inc. (NYSE:NKE) today reported fiscal 2021 financial results for its second quarter ended November 30, 2020. NIKE, Inc. (NYSE: NKE) plans to release its second quarter fiscal 2021 financial results on Friday, December 18, 2020, at approximately 1:15 p.m. PT, following the close of regular stock market trading hours. (971) 473-2556, NIKE, Inc. Reports Fiscal 2021 Second Quarter Results, Nominating & Corporate Governance Committee, Corporate Responsibility & Sustainability Committee, https://www.businesswire.com/news/home/20201218005683/en/, Second quarter reported revenues were $11.2 billion, up 9 percent compared to prior year and up 7 percent on a currency-neutral basis* driven by growth across all geographies, led by Greater China reported revenue growth of 24 percent, NIKE Direct sales were $4.3 billion, up 32 percent on a reported basis, and up 30 percent on a currency-neutral basis, with double-digit growth across all geographies, NIKE Brand digital sales increased 84 percent, or 80 percent on a currency-neutral basis, with triple-digit growth in North America and strong double-digit increases in EMEA, Greater China and APLA, Diluted earnings per share for the quarter was $0.78, up 11 percent, Inventories declined 2 percent versus prior year and have returned to healthy levels globally. During the quarter, we experienced temporary door closures in geographies affected by rising COVID-19 cases; however, more than 90% of our owned stores are open today, with some operating on reduced hours. X Nike Earnings. The athletic apparel maker posted revenue of $11.24 billion in the period, which also topped Street forecasts. Global Brand Divisions revenues include NIKE Brand licensing and other miscellaneous revenues that are not part of a geographic operating segment. References to this measure should not be considered in isolation or as a substitute for other financial measures calculated and presented in accordance with U.S. GAAP and may not be comparable to similarly titled non-GAAP measures used by other companies. In the Greater China region, Nike… Andy Muir By Alan Farley. Revenue increased to $10.3 billion in the second quarter… Company accelerates growth in digital sales and Greater China sales. NIKE, Inc. (NYSE: NKE) plans to release its second quarter fiscal 2021 financial results on Friday, December 18, 2020, at approximately 1:15 p.m. PT, NIKE Inc. (NKE Quick Quote NKE - Free Report) is slated to release second-quarter fiscal 2021 results on Dec 18. What this could mean for investors On average, Wall Street analysts are forecasting that Nike will report revenue … The results beat Wall Street expectations. Following the news release, NIKE management will host a conference call beginning at 2:00 p.m. PT to review results. Nike Inc. on Friday reported fiscal second-quarter net income of $1.25 billion. Image source: Getty Images. Total NIKE Brand EBIT and Total NIKE, Inc. EBIT are considered non-GAAP financial measures and are being provided as management believes this additional information should be considered when assessing the Company’s underlying business performance and trends. Nike’s second-quarter results delivered a 9% increase over last year. For those unable to listen to the live broadcast, an archived version will be available at the same location through 9:00 p.m. PT, January 8, 2021. NIKE, Inc. (NYSE:NKE) today reported fiscal 2021 financial results for its second quarter ended November 30, 2020. Community Rules apply to all content you upload or otherwise submit to this site. These costs were slightly offset by disciplined expense management. Revenues for the NIKE Brand were $10.7 billion, an increase of 8 percent to prior year on a currency-neutral basis driven by strong double-digit growth in NIKE Direct, as well as growth in Sportswear and the Jordan Brand, slightly offset by mid single-digit declines in our wholesale business. Nike stock has been on a tear in 2020—and the athletic giant’s upcoming fiscal second-quarter earnings, due out Friday afternoon, will be its next chance to … Nike's fiscal second-quarter earnings unexpectedly rose as the pandemic delivered another huge boost to its digital sales.Nike stock rose late. Second quarter reported revenues were $11.2 billion, up 9 percent compared to prior year and up 7 percent on a currency-neutral basis* driven by growth across all geographies, led by Greater China reported revenue growth of 24 percent NIKE Direct sales were … The Beaverton, Oregon-based company said it had net income of 78 cents per share. Analysts were calling for the company to report earnings of 7 … Following the news release, NIKE management will host a conference call beginning at 2:00 p.m. PT to review results. Subscribe to OregonLive. Updated Dec 14, 2020. “NIKE’s strong results during a dynamic environment show the power of staying on the offense,” said John Donahoe, President and CEO, NIKE, Inc. “Fueled by compelling innovative product and global brand momentum, we continue to extend our leadership. NIKE, Inc. (NYSE:NKE) today reported fiscal 2021 financial results for its second quarter ended November 30, 2020. View source version on businesswire.com: Registration on or use of this site constitutes acceptance of our User Agreement, Privacy Policy and Cookie Statement, and Your California Privacy Rights (each updated 1/1/20). Key metrics The company, which is known for its athletic shoes […] 1 The Company evaluates the performance of individual operating segments based on earnings before interest and taxes (commonly referred to as “EBIT”), which represents net income before interest expense (income), net and income tax expense. 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