Either thanks to e-commerce, or thanks to the success of the docu-series "The last dance", produced on Netflix by Michael Jordan and which revived the myth of the inverted comma ("smoosh") brand, or thanks to the performance in China where the shops have been reopening for months, the result is that Nike in the quarter ended August 31 was not affected by the Covid crisis. The American sportswear giant's revenues fell imperceptibly by 0,62% compared to a year earlier, however remaining firmly above the threshold of 10 billion dollars (10,6) and beating the expectations of the analyzes, which accredited it “only” 9,1 billion. The reaction on Wall Street was immediate, where Nike shares closed on Tuesday gaining 12%, thanks also to the net profit which rose by 11% to 1,52 billion in the summer quarter.
The positive results have come despite the fact that the United States is still in the midst of the emergency, but other factors have compensated. Meanwhile, in the last three months, online sales have almost doubled (+82%), and then one of the main markets, the Chinese one, has long since begun to get going again: in and around Beijing, 90% of physical stores have now reopened and in the quarter in question sales increased by 6%. Finally, a series of happy marketing operations (or circumstances) did not fail to support Nike. First of all that of the series produced by the athlete who has become a symbol of the brand on a global level, Michael Jordan, whose basketball shoes from the "Air Jordan" collection have started selling a lot again after last spring's television success. Then there was the media exposure of some testimonials such as LeBron James and tennis player Naomi Osaka, engaged in the battle of Black Lives Matter.
