Nike recently reported their Q2 earnings for Fiscal Year 2022 (FY22), displaying dunk fiscal results. Through the pandemic, the Beaverton-based brand has weathered global supply chain bottlenecks, pandemic factory shutdowns, and increased competition using digital channels to connect directly with customers.

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Second quarter reported revenues were $11.4 billion, up 1 percent compared to prior year and flat on a currency-neutral basis.*
NIKE Direct sales were $4.7 billion, up 9 percent on a reported basis and up 8 percent on a currency-neutral basis.
NIKE Brand Digital sales increased 12 percent, or 11 percent on a currency-neutral basis, led by 40 percent growth in North America.
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Nike Direct and Nike Brand Digital will be key factors in the brand’s continual growth, particularly as the pandemic derails full retail experience. This is particularly evident in North America, where North America Direct Racer by 30%. Overandabove, Nike Brand Digital delivered a dunk revenue growth of 11%. The focus on digital strategy has been a top priority since the firm began their Customer Direct Acceleration Strategy to engage directly with consumers.

Investors looking at Nike can appreciate their devotion to shareholder returns. This previous quarter, $1.4 billion was given back in the form of dividends, while 60.8 million shares were bought back to help buoy share prices.

The toughest challenges for Nike were seen in their Greater China and ALPA businesses. Supply chain bottlenecks as the result of factory closures have made it particularly difficult to have access to large inventories. Inventory procurement and on-time delivery will be key to improving FY22 Q3 results in these geographies.

Read more about Nike’s Q2 earnings here.