DUBLIN–(BUSINESS WIRE)–Sep 24, 2020–
ResearchAndMarkets.com published a new article on the sportswear industry “Nike’s Shares Soar as Online Sales Increase 82%”
Nike’s shares rose by 13% in extended trading on Tuesday as the company reported digital sales had increased 82%, including triple-digit growth in the Europe, Middle East and Africa markets. The company’s sales in China rose by 6% during the latest period. Although North American sales were down by 2% in the same period, gross North American sales of $4.23 billion still exceeded analysts’ predictions of $3.39 billion. Several other athletic brands have also reported positive results in recent weeks including Lululemon and Under Armour.
In recent years, Nike has shifted its focus from selling through third-party retailers to its own direct-to-consumer sales channels and e-commerce business which has put the company in a stronger position compared to other retailers who have been hit hard by the pandemic. As