Nike expects online sales to shift permanently

Nike expects online sales to shift permanently

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Sportswear company Nike has come back from a cornvirus shortage, leading to a huge increase in online sales.

The U.S. agency saw a digital 2% digital sales rocket in the June-August quarter, more than the declining revenue in its stores.

On Tuesday, Nike recovered 10. 10.6 billion (8. 8.3 billion) as it regained much of its core markets, including China.

It also saw more than a third of its previous quarter revenue fall as stores around the world closed and tackled the lockdown.

Nike chief executive John Donahue says online sales shifts could be a sustained trend.

“We know that digital is a new genre. Today customers are made on a digital basis and can’t just go back,” Mr Donaho said.

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Media captionsMike Martin led the Guildford Heat to become one of the most successful teams in the UK

Sales are rising in its major markets, including China, Japan, South Korea and the United Kingdom, while the core market in North America is declining.

Shares of Nike rose more than 10% in late U.S. trading due to better-than-expected results on Wall Street.

Direct sale

Nike has been using its website and shopping app to release limited edition footwear.

The sportswear giant has been reducing its store presence and retail partners to sell directly to customers over the past few years.

Many gyms have closed during the epidemic, more people work and exercise at home, prompting sportswear makers to demand more casual wear.

Rival Adidas said last month that it was looking to improve sales trends when yoga pants maker Luluman posted a 157% jump in its online business.

Like many other retailers, Nike still continues to limit the number of people who visit its stores at once to help prevent the spread of viruses.

But when people come to visit, they come with the intention of buying, Nike said.

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About the Author: Forrest Morton

Organizer. Zombie aficionado. Wannabe reader. Passionate writer. Twitter lover. Music scholar. Web expert.

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