Nike'S Third Quarter Revenue Was $10.4 Billion, And Digital Sales Increased By 59%

On March 19, Nike announced the company's third quarter financial report after hours on Thursday. In the third quarter, Nike's earnings per share were $0.9, and the market expected $0.76, compared with $0.53 in the same period last year; its revenue was $10.4 billion, and the market expected $11.046 billion, compared with $10.104 billion in the same period last year. Among them, the sales volume of direct sales business of Nike direct was $4 billion, with a year-on-year increase of 20% and a month on month growth of 16%. Digital sales for the Nike brand grew 59% and 54% on a constant currency basis.

Nike (NKE. N) executives revealed that the Jordan Brand grew by double-digit in the third quarter, and Jordan's female business grew by nearly three digits.

Nike said that its inventory in the third quarter was $6.7 billion, and the market expected $6.2 billion; the gross profit margin was 45.6%, and the market estimated 44.4%.

In addition, the company's total revenue in Greater China in the third quarter was $2.279 billion, with the market expected to be $1.98 billion.

After the announcement of the financial report, Nike shares fell 4% after hours, and the current decline narrowed. The company closed at $143.17, down 1.14%. The results also showed that Nike will continue to pay dividends to shareholders, with a total dividend of $434 million in the third quarter, up 14% year-on-year. The company said it suspended its stock repurchase program in the fourth quarter of fiscal year 2020 due to health events, and intends to resume the stock repurchase program in the fourth quarter of fiscal year 2021.