NIKE optimistic about North America

NIKE expects to see 'a significant reversal of trend' in North America

USA-based sportswear giant NIKE has reported revenue of $9 billion in the third quarter ending on February 28th 2018 – representing an increase of 3 per cent on a currency-neutral basis. Revenue from the NIKE brand during this period grew by 4 per cent year-on-year to $8.5 billion. This was driven by increases in such regions as Greater China and EMEA, and included double-digit growth in NIKE Direct and a boost in sales of sportswear and basketball products.

The Converse brand achieved sales of $483 million, although this was down by 8 per cent compared to the same quarter of 2016-17. According to NIKE, this drop was primarily as a result of declines in North America. Despite a fall in revenue from the North American market, NIKE Inc chairman, president and chief executive Mark Parker expects to see what he calls ‘a significant reversal of trend’ in the region. In the company’s fiscal report, he expressed his confidence that momentum will accelerate ‘thorough the scaling of new innovation platforms and differentiated NIKE consumer experiences expanding across the marketplace’.

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This article was originally published on page 6 of the May 2018 issue of SATRA Bulletin.

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