Nike has again focused on specific sports that owes its fame, such as running and basketball. Although the turnover was corrected for currency fell by 1 percent, that decrease had expected less than investors. Especially the improved performance in the wholesaler and the running shoes division, which were rather weak spots, contributed to a total turnover of $ 11.7 billion, more than the $ 11 billion that analysts had predicted.
Inner cities are fighting for fun shoppers
Analyst at El Torro Jean-Paul van Oudheusden is impressed. “Since 2021, the Nike share has fallen by 60 percent. The best way for a CEO to regain the trust of investors is to exceed expectations.”
Hill foresaw a fall in turnover of around 5 percent, but realized a small increase of 1 percent. The quarterly profit of 0.49 cents per share, while 0.27 was expected, was also sufficient for a price increase of 4 percent in the after -trade trade of Wall Street.
“They were arrogant”
Under the previous CEO of Nike, we said goodbye to retailers such as Foot Locker in the shopping street and Amazon as an online store, because the company thought he could reach consumers through its own channels.
Van Oudheusden: “Sellers in the shopping streets have therefore promoted other brands. I find the return to the shopping street and especially to Amazon exemplary for recovery. You have to be where your customers are.”
The article continues below.
“They were so arrogant to think they could do it themselves, but they still need the retailers,” says Van Oudheusden. According to him, it will have to be apparent in the following quarters whether the recovery is sustainable.