Connect with us

Business

Jordan Brand Records Its First-Ever Billion-Dollar Quarter

Published

on

This week Nike shared its earnings report for the second quarter of the 2020 fiscal year. Total sales surpassed analysts’ estimates, with Jordan Brand having recorded its first-ever billion-dollar quarter.

“I’ve never been more optimistic about the future of this company,” outgoing President and CEO Mark Parker said, before describing Jordan Brand’s accomplishment as “an incredible milestone.”

The company points to new innovation and an increase in purchases by women and customers outside the US as key reasons for Jordan Brand’s record-setting quarter. Additionally, Parker praised the Air Jordan 1, Air Jordan 34, and the brand’s women’s and apparel divisions.

Nike’s revenue climbed 10 percent to $10.33 billion compared to a year ago, as its net income rose to $1.12 billion. A significant increase in digital sales, 38 percent, played a major factor in the overall spike. At this time, Nike is valued at roughly $157.9 billion.

Head here to read the company’s full earnings report.

Continue Reading
Click to comment

Leave a Reply

Trending