On Thursday, June 25th, Nike, Inc. (NKE) reported Q4 earnings for the quarter ending May 31st.
The company reported total revenue of $6.31 billion, a decline of 38% from $10.18 billion a year ago. This drop was due to Nike having to temporarily close 90% of its physical owned stores across the globe because of Covid-19.
One bright note however is that Nike’s fundamentals remain strong, as Q4 digital sales soared 75%, representing about 30% of total revenue.
I’ll be explaining how to trade Nike shares on upcoming video lessons.
Tyrone Jackson, The Wealthy Investor
