• Nike Beats Sales Expectations During Coronavirus Pandemic Due to Rise in Online Shoppers

    4 days ago - By Hypebeast

    Nike has beaten its sales estimates during this current period of COVID-19 disruption thanks to a rise in online shoppers. The Business of Fashion reported earlier this week that Nike's digital sales climbed by more than 30% in Greater China, while physical sales dropped by 5% in the same quarter due to store closures. The sportswear giant was forced to close its stores throughout the United States and Europe as coronavirus' threat grew. As The BOF reports, chief executive John Donahoe told analysts in his first earnings call since rising to the title that "at a time when people were...
    Read more ...

     

  • SMCP says COVID-19 outbreak expected to impact Q1 sales

    SMCP says COVID-19 outbreak expected to impact Q1 sales

    4 days ago - By Fashion United

    Consolidated sales at SMCP, parent company of Sandro, Maje and Claudie Pierlot, reached 1,131.9 million euros , up 8.7 percent at constant currency, mainly driven by an international sales growth of 14.2 percent with mainland China registering more than 30 percent rise at constant currency. The company said in a statement that this performance reflected a stable, negative 0.1 percent like-for-like sales growth, with acceleration of 0.8 percent in H2 2019, as well as a continued expansion of the stores network. Overall, reported sales were up 11.3 percent, including a positive currency...
    Read more ...

     

  • Nike reports 36 percent digital growth amid COVID-19 outbreak

    4 days ago - By Fashion United

    Nike revenues increased to 10.1 billion dollars in the third quarter, up 5 percent on a reported basis and up 7 percent on a currency-neutral basis, driven by 13 percent currency-neutral growth in Nike Direct with digital growth of 36 percent and strong growth across EMEA, APLA and North America, offset by the impact of COVID-19 on the company's business in Greater China. The company's net income decreased 23 percent to 847 million dollars and diluted earnings per share decreased 22 percent to 53 cents as strong revenue growth in Nike Direct and across EMEA, APLA and North America was...
    Read more ...