Nike business grows with corona easing

Released on 23. 09. 2021

  • Nike’s business is growing with the relaxation of Corona restrictions. Photo: Axel Heimken

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The corona pandemic has affected Nike’s business. With the loosening of the restrictions, the turnover of the sporting goods manufacturer is increasing again.

Beaverton (dpa) – Adidas competitor Nike continues to benefit significantly from the lifting of the corona restrictions.

Sales of the Sporting goods manufacturer rose in the past fiscal quarter by 12 percent to 12, 25 Billion dollars (10,45 billion euros). Analysts had expected an even stronger increase to around 12, 5 billion dollars. Nike referred, among other things, to longer delivery times in view of the global problems in the logistics chains. In after-hours trading, the Nike share fell temporarily by 2. 55 percent.

The bottom line is that the profit rose by 23 percent to 1, 55 billion dollars (around 1.6 billion euros), as announced by Nike after the US market closed. In the same quarter of the previous year, the corona crisis had a significant negative impact on business.

Nike boss John Donahoe’s strategy includes expanding direct business with consumers. Here, sales adjusted for currency fluctuations even increased by 25 percent to emphasize Nike.

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