Fast Money Blog- 6/25/2021

The big story this week was undoubtedly NKE earnings.

On Thursday, June 24th, Nike Inc. (NKE) posted its Q4 earnings (for the period ending on May 31st, 2021). The company reported Q4 revenue of $12.3 billion, an increase of 96% year-over-year.

Nike’s annual revenue (from 5/31/2020 - 5/31/2021) came in at $44.5 billion, a 19% increase from the prior period.

Michael Jordan is still a big part of Nike’s success, as annual revenue for the Jordan Brand came in at $4.7 billion, up 31%.

Q4 Revenues from the NIKE Brand increased 88% year-over-year to $11.8 billion, while revenues for Converse were up 85% year-over-year to $596 million.

Here’s the best news: Revenue from NIKE Direct increased 73% to $4.5 billion. NIKE Direct includes their direct-to-consumer sales channels and e-commerce business.

I will be discussing NKE earnings as we move forward.

Now that stocks are retracing, there’s a lot to look forward to.

Tyrone Jackson

The Wealthy Investor