Nike's Second Quarter 2020 Financial Results Reach a Milestone
Facts and figures always play a major role among companies. Tax predictions are calculated based on these data. Recently Nike announced its financial results for the second quarter of 2020, which ended on November 30. But, why should this be so important now? This is because when you look at the figures from CEO Mark Parker's announced financial statements, Jordan Brand has risen to its first billion dollar quarter.
This massive increase could have several reasons. One of them is the new Air Jordan 34, which was released a few months ago, as well as the huge increase in women's basketball merchandise. In addition, Nike counts the expanded international market sales as a major reason for this new milestone. Overall, Nike's revenues have increased by a hefty 12% to $9.8 billion.
The steadily growing wholesale on the internet as well as Jordan Brand's sportswear items seem to have a big impact. But, for some of Nike's employees, this result does not seem to be so special at all.
This massive increase could have several reasons. One of them is the new Air Jordan 34, which was released a few months ago, as well as the huge increase in women's basketball merchandise. In addition, Nike counts the expanded international market sales as a major reason for this new milestone. Overall, Nike's revenues have increased by a hefty 12% to $9.8 billion.
The steadily growing wholesale on the internet as well as Jordan Brand's sportswear items seem to have a big impact. But, for some of Nike's employees, this result does not seem to be so special at all.
"What's most exciting is that we're still in the early stages of diversifying Jordan's portfolio," said Mark Parker. "And we have continued the momentum into the third quarter with a major holiday launch of the Jordan 11" Bred" which is meeting the demand for one of the absolute favorites in the sneaker culture to an incredible degree."
Mark Parker also talked about the Air Jordan 1 and the popular colourways that had just been released in the last few weeks.
"Our deliberate strategy of adding new styles and colours to the Air Jordan 1 allows us to offer more people one of the world's most popular sneakers while giving consumers more choice."
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