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From 2006 to 2013 leveraged our expertise in-house to optimize its web site for search, and drive extra organic traffic. Our fast impact added hundreds of thousands of dollars to the bottom line and resulted in large year-over-year positive factors till they had been acquired in 2017 for $1.24 … Read More

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Nike swings to a quarterly loss as global store closures dent results

Nike (NKE) swung to a quarterly loss and posted fiscal fourth-quarter sales that dropped more than expected as a slew of global store closures hit the athletic-wear maker’s results. Shares of Nike dropped more than 2% in extended trading after reporting results.

Here were the main metrics from the report, compared to consensus estimates compiled by Bloomberg:

  • Revenue: $6.31 billion, vs. $7.38 billion expected and $10.2 billion Y/Y

  • Loss per share: 51 cents, vs. earnings of 10 cents per share expected and earnings of 62 cents Y/Y

Nike’s results captured the three-month period between March and the end of May, during which the athletic-wear giant contended with a slew of store closures across the globe. The vast majority of Nike-owned stores outside of China and South Korea were shut in mid-March due to the pandemic, and just 5% of North American retail locations had reopened as of mid-May, with

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