Nike posts strong quarter markers after strategic campaign
Nike, the leading footwear and apparel market, posted big markers as it released its total net income for the second quarter on Tuesday.
Nike reported a $0.86 per share earnings for the three months for the month of June to August increasing by 28% from the same quarter last year. The total net income of the company increased by 25% in the quarter amounting to $1.4 billion.
The “Consumer Direct Offense” strategy that Nike belted on since June 2017 is now generating returns for the company. The new strategy allowed Nike to produce and get products to consumers faster and engaging with customers through its online platforms to sell products.
On Tuesday end-trading, Nike’s stock surged by more than 5%. A stronger indicator of the Consumer Direct strategy is Nike’s growth of 42% in the quarter according to Nike CEO Mark Parker.
The effective campaign “shows the power of more personal relationships with consumers,” Parker said.
“We strongly believe in the power of free and fair trade,” he added.
Oil hikes after Trump says Saudi, Russia likely to resolve price war31.03.2020
U.S. and Russia agree to talks, Oil prices rebound after 18-year lows30.03.2020
Thai Airways may reduce plane types permanently after landing jets26.03.2020
Singapore prepares for recession as virus-hit economy drops in first quarter