Nike 2Q Sales Dented By Supply Chain Issues
December 20 2021 - 5:00PM
Dow Jones News
By Kimberly Chin
Nike Inc. said its revenue rose modestly in the latest quarter
as supply chain woes and inventory constraints continued to crimp
business.
Revenues were $11.36 billion for the quarter ended Nov. 30, up
1% from the year-ago period and ahead of analysts' consensus
estimate of $11.25 billion, according to FactSet. Nike's direct
sales rose 9% to $4.7 billion. Digital sales increased 12%.
The sneaker giant said second-quarter profit rose to $1.34
billion from $1.25 billion a year earlier. Per-share earnings were
83 cents, compared with 78 cents a year earlier. Analysts were
expecting a profit of 66 cents a share.
Write to Kimberly Chin at kimberly.chin@wsj.com
(END) Dow Jones Newswires
December 20, 2021 16:45 ET (21:45 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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