US apparel firm Nike’s FY21 sales rises 19% to $44.5 bn

Nike, a US-based mostly designer of reliable athletic footwear, attire and add-ons, documented 19 per cent revenues growth to $forty four.5 billion in its fiscal 2021 ended on May perhaps 31, 2021, in contrast to the revenues of $37.4 billion in the former fiscal. The company’s net revenue for the quarter escalated 126 per cent to $5.seven billion (FY20: $2.5 million).

 

“Nike’s powerful benefits comprehensive fiscal yr exhibit Nike’s exclusive aggressive edge and deep connection with consumers all more than the environment,” John Donahoe, president and CEO at Nike, explained in a press launch. “FY21 was a pivotal yr for Nike as we introduced our purchaser direct acceleration strategy to existence throughout the marketplace. Fuelled by our momentum, we proceed to make investments in innovation and our digital leadership to set the basis for Nike’s very long-expression growth.”

 

Gross financial gain for FY21 grew 23 per cent to $19.nine billion ($sixteen.2 billion), whilst selling and administrative expenses were $thirteen. million ($thirteen.one billion).

 

Revenues from Nike brand all through the yr surged 19 per cent to $42.3 billion ($35.6 billion), whilst Converse brand revenues grew 19 per cent to $2.2 billion ($one.eight million). Nike brand’s digital gross sales jumped fifty nine per cent all through the documented period of time.

 

North America locations recorded revenues increase of 19 per cent to $seventeen.2 billion ($14.5 billion), whilst Europe, Center East and Africa’s revenues were up 23 per cent to $11.4 billion ($nine.3 billion). Additionally, revenues from Asia Pacific & Latin America’s grew 6 per cent in FY21 to $5.3 billion ($5. billion), and revenues in Higher China were up 24 per cent to $eight.3 billion ($6.6 billion).

 

“Nike’s brand momentum is a testament to our reliable purchaser connections, digital strength and ongoing operational execution,” Matt Pal, government vice president and chief financial officer at Nike explained. “As we progress our purchaser-led digital transformation, we are making a new financial model that will proceed to gasoline very long-expression sustainable, profitable growth for Nike.”

Fibre2Fashion Information Desk (JL)