Nike’s revenues have declined almost forty percent to $6.3 billion for its fiscal 2020 Q4 and digital sales increased 75% during this period. Nike’s digital sales have seen double digital rise, accounting for thirty percent of total revenue.
“In a highly dynamic environment, the NIKE brand continues to resonate strongly with consumers all over the world as our digital business accelerates in every market. We are uniquely positioned to grow, and now is the time to build on NIKE’s strengths and distinct capabilities. We are continuing to invest in our biggest opportunities, including a more connected digital marketplace, to extend our leadership and fuel long-term growth.” – John Donahoe, President & CEO, NIKE, Inc.
“As physical retail re-opens, NIKE’s strong digital trends continue, a testament to the strength of our brand and the investments we’ve made to elevate digital consumer experiences. Amid macroeconomic uncertainty, we will continue to operate with agility, focused on optimising marketplace supply and demand, cost management and leveraging our financial strength to drive long-term sustainable, profitable growth.” – Matt Friend, Executive Vice President & CFO, NIKE, Inc.