Posted on Jun 22, 2021
Nike To Report Earnings As Consumers Hit Its 'Sweet Spot'
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While most Nike stores are now open, digital purchases have fueled sales throughout the pandemic. Nike's online sales surged 59% in Q3, after accelerating to 84% growth in Q2 from 82% in Q1.
Nike has guided Q4 sales growth of 75% and gross margins of about 43.4%. Pivotal Research Group analyst Mitch Kummetz said in a June 21 note that favorable U.S. market conditions likely drove higher-than-expected direct to consumer penetration. Strong full-price sell-through on lean channel inventory may have also boosted profits.
"We're very bullish on the company's North American performance for the quarter," Kummetz said. The report adds that Pivotal's May Footwear Survey indicates that "even as U.S. consumers are now buying a wider range of footwear, they continue to buy shoes to get outdoors (for a run, walk or hike), which is right in NKE's sweet spot."
Nike has guided Q4 sales growth of 75% and gross margins of about 43.4%. Pivotal Research Group analyst Mitch Kummetz said in a June 21 note that favorable U.S. market conditions likely drove higher-than-expected direct to consumer penetration. Strong full-price sell-through on lean channel inventory may have also boosted profits.
"We're very bullish on the company's North American performance for the quarter," Kummetz said. The report adds that Pivotal's May Footwear Survey indicates that "even as U.S. consumers are now buying a wider range of footwear, they continue to buy shoes to get outdoors (for a run, walk or hike), which is right in NKE's sweet spot."
Nike To Report Earnings As Consumers Hit Its 'Sweet Spot'
Posted from investors.com
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1SG (Join to see) "However, the note also says China's boycott of Nike products may have been a drag on sales. China called for a boycott of Western goods after Nike and others accused Chinese officials of using forced labor in the cotton industry."
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So many Trump supporters discuss economic gloom and doom because of corporate taxes will go up a bit. Let's see the S&P 500 is up 14% for the year and 1st and 2nd quarters for GDP growth are 6% and 8% respectively. Corporations will not pass on the tax increases to customers carte blanche as the Trump supporters claim. The corporations have to consider the prices of their competitors services and products. They also ramble on about job losses due to the taxes. There are so many positions unfilled now. I swear many of the Trump people astound me with their general ignorance. Many of them are stupid because they believe everything Trump, the GOP, and Fox News say.
Fox example Trump supporters will say Trump did a good job preparing the pandemic. They constantly parrot that Trump stopped some air travel and the Democrats screamed xenophobia. I did National Disaster Planning. Trump and his administration did virtually nothing until mid March. That is when the idiots started to plan. By that time it was too late. The pandemic was too big slow down. Trump's lies made the pandemic worse because his verbiage indicated pandemic planning was a low priority because it would just magically disappear. I can never forgive that stupid, incompetent, and caustic jackass for the lack of pandemic planning. His bragging about the high pandemic cases is seared in my mind. What rational president will brag about the suffering of his people? That my friends is the man Trump supporters think is a great leader. I am in total disbelief. This country deserves much better.
Fox example Trump supporters will say Trump did a good job preparing the pandemic. They constantly parrot that Trump stopped some air travel and the Democrats screamed xenophobia. I did National Disaster Planning. Trump and his administration did virtually nothing until mid March. That is when the idiots started to plan. By that time it was too late. The pandemic was too big slow down. Trump's lies made the pandemic worse because his verbiage indicated pandemic planning was a low priority because it would just magically disappear. I can never forgive that stupid, incompetent, and caustic jackass for the lack of pandemic planning. His bragging about the high pandemic cases is seared in my mind. What rational president will brag about the suffering of his people? That my friends is the man Trump supporters think is a great leader. I am in total disbelief. This country deserves much better.
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