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Nike: record sales but losing the kit battle at the Euros

02/07/2021

US

Adidas Uniforia

Nike’s recent results were extremely impressive and its shares are also riding close to all-time highs. However, rival kit suppliers appear to be stealing the headlines at Euro 2020 and one of those is another of our Ultimate Stocks.


Nike Inc. (US:NKE), a constituent of our Ultimate Stocks portfolio, reported record May 2021 quarterly sales of $12.34m. This was the first time in the Group’s 50 year history that quarterly sales had exceeded $12 billion, highlighting the pent-up demand among sports hungry consumers.


Within this, Nike’s direct sales, being items ordered through its apps, websites or own stores rose 73% to $4.5 billion as the sportswear giant got closer to its customers over the pandemic.

Net…

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