Nike Shares Soar After Sales and Profit Surge

Nike experienced a significant rally, positively affecting its rivals. Despite a previous quarter loss, Nike exceeded expectations with an 82% increase in online sales and a $1.5 billion revenue beat. Growth in China and improved margins returned Nike to profitability. The CEO highlighted the company's resilience in product output despite pandemic disruptions. China, recovering faster from the pandemic, was a key driver in Nike's recovery, with a 6% sales increase. In contrast, North American sales declined by 2% due to varied lockdowns and reduced demand for team apparel. Overall, Nike's performance was better than anticipated.

What was a significant factor in Nike's return to profitability?

• Increased marketing expenses

• Expansion into new markets

• Growth in China and better margins

• Reduction in workforce

What did Nike's CEO emphasize about the company's operations during the pandemic?

• The focus on local markets

• The reduction in product lines

• The unmatched pace of product output

• The need to cut costs

How did China's recovery from the pandemic impact Nike's sales?

• It led to a decrease in sales

• It caused a temporary sales halt

• It had no significant impact

• It boosted sales significantly

What was a challenge for Nike's sales in North America?

• Supply chain disruptions

• Increased competition

• Lack of sporting events

• High import tariffs

Despite a slight drop in overall sales, how did Nike's performance compare to expectations?

• It was not evaluated

• It exceeded expectations

• It met expectations

• It was below expectations