Recent News: Nike is highlighting high-level forecasts as North American growth cuts epidemics in Asia

Nike’s strong sales in the US and Europe helped to address the epidemic problems in China and Asia-Pacific in the second phase and confirmed the future results of the sportswear manufacturer.

Nike on Monday said it was continuing to tackle the volatile market situation, but CEO John Donahoe said the company “is in a much stronger position today than we were 18 months ago”.

The disruption was particularly pronounced in Asia, with a company from Oregon claiming that revenues from China and Asia-Pacific and Latin America were down “mainly due to a decrease in supplies resulting from the closure of the Covid-19-related factory”.

Although the closure had negative consequences for all companies, executives say North America and Europe, the Middle East and Africa have grown exponentially due to “a growing number of items entering the second phase”.

Three months ago, Nike spoke of the “permanent stability” of retail sales when epidemic embargoes were reduced, but this was unprecedented in recent actions by a growing number of countries in recent weeks to curb the spread of the Omicron brand. corona virus.

Overall, Nike reported $ 11.36bn in three months ended November 30. That was 1 percent from a year ago (excluding currency fluctuations) but came in at about $ 100m ahead of what experts show in a Refinitiv study.

Total $ 1.34bn, up 7 percent from a year ago, exceeded $ 1.01bn on Wall Street.

Nike sales directly to consumers rose 8 percent from a year ago in the second quarter. This was led by North America, where the company said it had a record of selling Nike Direct on a Friday holiday on Thanksgiving holiday in the US.

Nike shares rose 4.8 percent in sales after hours Monday.