The sports brand stressed that the fourth quarter results were « significantly affected » by the closure of physical stores
New York.- The sports firm Nike announced this Thursday that in its last fiscal year, closed on May 31, 2020, it accumulated profits of 2,539 million dollars, 37% less than the 4,029 million dollars recorded in the same period of the previous year, due to a spectacular fall of the sales by closing of most of its physical stores largely due to the pandemic.
In the last twelve months, Nike It obtained an income of 37,403 million dollars, 4% one hundred less than the 39,117 million achieved in the period of the previous fiscal year.
Accumulated earnings per share in those twelve months reached $ 1.63, compared to $ 2.55 in the previous fiscal year, which represents a decrease of 36%.
Compared to the most recent quarter, the period that Wall Street most closely follows, Nike recorded some losses of $ 790 million, compared to earnings of $ 989 million in the fourth quarter of the previous fiscal year, which means a decrease of 180%.
Nike closed the last quarter with losses of $ 0.51 per share, compared to the profit of $ 0.62 per share obtained in the same period last year, which represents a decrease of 182%.
In a statement released after the closing of Wall Street operations, the sports brand stressed that the fourth quarter results were « significantly affected » by the closing of physical stores in North America, Europe, the Middle East, Africa and Asia « where 90 percent of stores owned by Nike they were closed for almost eight weeks of the quarter to protect the health and safety of workers and customers. «
To compensate for this closing, Nike he accelerated his « contact and commitment » with consumers: « Leveraging the strength of our digital ecosystem, » according to the note.
The company indicated that sales online, they increased 75% on average in the fourth quarter and accounted for 30% of total income.
« In a highly dynamic environment, the brand Nike continues to resonate strongly with consumers around the world as our digital business accelerates in all markets, « said President and CEO of NikeJohn Donahoe, quoted in the statement.