Recently, global sportswear leader Nike announced its fiscal year 2020 Q2 results. The financial report shows:
Nike Group revenue in the second quarter of fiscal 2020 reached 10.326 billion US dollars, an increase of 10% year-on-year.
This was higher than market expectations of $ 10.08 billion. Net income rose 32% year-on-year to $ 1.115 billion. The gross profit margin was 44%, higher than the market expectation of 44.1%. Earnings, revenue and gross margin all exceeded market expectations.
NIKE footwear success into earnings highlights, these shoe factories benefit
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Nike announced the latest financial report. Under the growth of footwear and digital business, revenue and profit performance are better than market expectations. Legal entities are optimistic. Nike maintains double-digit growth in footwear revenue. The best speed, coupled with the blessings of sports events including the NBA, UEFA Champions League and Tokyo Olympic Games next year, are optimistic that the supply chains Fengtai (9910), Baocheng (9904), and Baihe (9938) will continue to benefit.
The legal person pointed out that the strong growth momentum of NIKE footwear sales in the Greater China region helps Fengtai to increase its sales in the Chinese factory area, and NIKE is also one of the two top customers of Baocheng. In addition to the manufacturing end performance is expected to benefit, China Sports shoes and clothing sales will also drive Baocheng subsidiary Baosheng sales.
Up 23% year-on-year, Nike's performance depends on China in the future
By region, Nike's second fiscal quarter:
North American revenue was US $ 3.98 billion, a year-on-year increase of 5.3%.
Asia-Pacific Latin America revenue was US $ 1.47 billion, a year-on-year increase of 13%.
EMEA (Europe, Middle East, Africa) revenue was 2.54 billion US dollars, an increase of 9.7% year-on-year, and the market is expected to 2.46 billion US dollars.
It is worth mentioning that:
Nike Greater China's revenue in the second quarter of fiscal 2020 reached 1.847 billion U.S. dollars, with a constant exchange rate growth of 23% year-on-year and double-digit growth for 22 consecutive quarters; EBIT increased 24% year-on-year To $ 694 million. From the financial performance, Nike Greater China has maintained a strong momentum.
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