18% digital growth sees Nike buck sports trend

Nike: running ahead with digital

Nike: running ahead with digital

Nike has increased revenues 5% to $46.7bn for the full year to 2022, with Nike Brand up 5% and its Nike Direct surging 14% off the back of 18% growth in Nike Brand digital growth.

Revenues for the Nike Brand were $44.4bn, up 5% on a reported basis, driven by double-digit growth in Nike Direct, partially offset by slight declines in wholesale revenues.

Nike Direct revenues were $18.7bn, up 14% on a reported basis, led by Nike Brand digital growth of 18% and Nike-owned stores up 10%.

Revenues for Converse hit $2.3bn, up 6% on a reported basis, led by double-digit growth in our direct to consumer business, partially offset by lower wholesale revenues.

“NIKE’s results this fiscal year are a testament to the unmatched strength of our brands and our deep connection with consumers,” says John Donahoe, President and CEO, NIKE, Inc. “Our competitive advantages, including our pipeline of innovative product and expanding digital leadership, prove that our strategy is working as we create value through our relentless drive to serve the future of sport.”

“In this dynamic environment, NIKE’s unrivaled strengths continue to fuel our momentum,” adds Matt Friend, Executive Vice President and Chief Financial Officer, NIKE, Inc. “Two years into executing our Consumer Direct Acceleration, we are better positioned than ever to drive long-term growth while serving consumers directly at scale.”

The online sporting goods and outdoor sector in EMEA was worth €12.04bn in 2021, markedly up from €10.53bn seen in 2020 and continuing impressive growth that the sector has enjoyed since around the end of the credit crunch in 2008. It is further forecast to hit €13.18bn in 2022. Find out more about the Sports Goods Sector and Nike in the RetailX EMEA Sports Goods Sector Report 2022.

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