{"id":1026558,"date":"2021-12-21T17:18:01","date_gmt":"2021-12-21T23:18:01","guid":{"rendered":"https:\/\/www.snkrsday.com\/?p=1026558"},"modified":"2021-12-21T17:18:06","modified_gmt":"2021-12-21T23:18:06","slug":"nike-fiscal-year-22-quarter-2-earnings-news","status":"publish","type":"post","link":"https:\/\/www.snkrsday.com\/nike-fiscal-year-22-quarter-2-earnings-news\/","title":{"rendered":"Nike&#8217;s Q2 Results Showcase Strong Digital Growth Despite Supply Chain Challenges"},"content":{"rendered":"\n<p><strong><a href=\"https:\/\/www.snkrsday.com\/nike\/\" target=\"_blank\" rel=\"noreferrer noopener\">Nike<\/a><\/strong> recently reported their Q2 earnings for Fiscal Year 2022 (FY22), displaying strong fiscal results. Through the pandemic, the Beaverton-based brand has weathered global supply chain bottlenecks, pandemic factory shutdowns, and increased competition using digital channels to connect directly with customers.<\/p>\n\n\n\n<p>Notable financial results from Nike news are the following: <\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Second quarter reported revenues were $11.4 billion, up 1 percent compared to prior year and flat on a currency-neutral basis.*<\/li><li>NIKE Direct sales were $4.7 billion, up 9 percent on a reported basis and up 8 percent on a currency-neutral basis.<\/li><li>NIKE Brand Digital sales increased 12 percent, or 11 percent on a currency-neutral basis, led by 40 percent growth in North America.<\/li><li>Gross margin increased 280 basis points to 45.9 percent.<\/li><li>Diluted earnings per share for the quarter was $0.83, up 6 percent.<\/li><\/ul>\n\n\n\n<p>Nike Direct and Nike Brand Digital will be key factors in the brand&#8217;s continual growth, particularly as the pandemic derails full retail experience. This is particularly evident in North America, where North America Direct grew by 30%. Additionally, Nike Brand Digital delivered a strong revenue growth of 11%. The focus on digital strategy has been a top priority since the firm began their Customer Direct Acceleration Strategy to engage directly with consumers.<\/p>\n\n\n\n<p>Investors looking at Nike can appreciate their devotion to shareholder returns. This previous quarter, $1.4 billion was given back in the form of dividends, while 60.8 million shares were bought back to help bolster share prices.<\/p>\n\n\n\n<p>The toughest challenges for Nike were seen in their Greater China and ALPA businesses. Supply chain bottlenecks as the result of factory closures have made it particularly difficult to have access to large inventories. Inventory procurement and on-time delivery will be key to improving FY22 Q3 results in these geographies.<\/p>\n\n\n\n<p>Read more about Nike&#8217;s Q2 earnings <a href=\"https:\/\/news.nike.com\/news\/nike-inc-reports-fiscal-2022-second-quarter-results\" target=\"_blank\" rel=\"noreferrer noopener\">here<\/a>. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Nike recently reported their Q2 earnings for Fiscal Year 2022 (FY22), displaying strong fiscal results. Through the pandemic, the Beaverton-based&hellip;<\/p>\n","protected":false},"author":328335,"featured_media":1026568,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[2,1224791],"tags":[],"cultivate_rss":[],"class_list":{"2":"type-post"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.0 (Yoast SEO v24.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Nike Fiscal Year 22 Q2 Earnings News | Snkrs Day<\/title>\n<meta name=\"description\" content=\"Nike&#039;s strong FY22 Q2 earnings showcases the direct impact of growing their digital businesses. Learn more here at Snkrs Day.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.snkrsday.com\/nike-fiscal-year-22-quarter-2-earnings-news\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Nike&#039;s Q2 Results Showcase Strong Digital Growth Despite Supply Chain Challenges\" \/>\n<meta property=\"og:description\" content=\"Nike&#039;s strong FY22 Q2 earnings showcases the direct impact of growing their digital businesses. 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