Much has been made over the last year or two about Nike‘s decreasing global sales. What much of those discussions, writings, and barbershop-like probings don’t detail is how stable the company truly is. Mark Parker, Nike CEO, recently detailed stock gains and a sales uptick that will certainly detract naysayers for a least a moment.
“Nike continues to create both near-term wins in today’s dynamic environment and a lasting foundation for future growth,” Parker recently explained. He’s referring to an earned 60 cents a share for the latest quarter which, even though experts predicted the brand would earn upwards to 50 cent gains over the last quarter, is still considered a win or an over-performance. Parker’s comments are also a result of shares rising approximately 4.4 percent in the latest quarter. Nike also saw an overall revenue increase, posting a hefty 5.3 percent rise which allow the brand to sit comfortably at $8.68 billion USD.
While adidas continues to gain ground in this ever competitive marketplace, it’s easy (and somewhat careless) to forget that Nike has been so far out in front for so long, that even talking about “competition” until recently was futile and unnecessary. By in large, their lead is still greater than most care to comment.
Source: Business of Fashion