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Nike reported stronger earnings than expected earnings for the fiscal first quarter of 2020 after the close Tuersday with better sales in North America and China with digital sales up 45%. $NKE shares traded up 5.5% to a record high of $92.25.

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Nike Inc NYSE: NKE Reported Earnings After Close Tuesday

 $0.86 Beat $0.71 EPS AND $10.66 Billion Beat $10.46 Billion forecast in revenue. 


Nike earnings rose 29% to 86 cents a share as revenue grew 7% to $10.66 billion. Wall Street had expected Nike earnings per share to rise to 71 cents, according to Zacks Investment Research. Revenue was projected at $10.45 billion. In the prior quarter, Nike earnings fell for the first time in several years while sales growth slowed for a second straight quarter.

Nike Inc NYSE: NKE

Market Reaction - After Close After Hours $92.25 +5.82%

 NIKE NKE Q1 2020 Earnings



  • North America sales climbed 4% to $4.293 billion.
  • China sales shot up 22% to $1.679 billion, or 27% excluding currency shifts.
  • Double-digit growth in women's sales and 42% growth in digital sales with mobile is "leading the way."
  • Air Max React a big driver with the Air Max 270 up by triple digits, as a strong kids business helped fuel the company's biggest back to school season ever.
  •  Revenue from the Women's World Cup was four times bigger than the last one.
  • More than 50% digital growth came from Nike members, with personalization at scale as the goal. Revenues for Converse were $555 million, up 8% on a currency-neutral basis, mainly driven by double-digit growth in Asia and through digital globally, which was partially offset by declines in the US.




“Even amidst the increasingly volatile macroeconomic and geopolitical environment, we expect our unrelenting focus on better serving the consumer to continue fueling strong, broad-based growth across our global portfolio,” said said CFO Andy Campion.

  • Nike is looking to service a wider range of athletes and noted the success of its plus-size line.
  • Nike will offer new designs in its Jordan line based around hot NBA rookie Zion Williamson.

Source: Nike, AlphaStreet

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