Nike Revenue increases by 5% to US$10.9 Billion for 3rd Quarter 2022

Sportswear conglomerate Nike has reported a third-quarter revenue increase of US$10.9 billion, up 5% year over year (YoY). 

Nike also sees 13% growth in the emerging markets that include Europe, the Middle East and Africa (EMEA). The sports brand is currently sitting at US$10.3 billion. The Asia Pacific and Latin America increased 11 per cent to US$1.5 billion. 

President and chief executive of Nike John Donahoe said, “Nike’s strong results this quarter show that our consumer-direct acceleration strategy is working, as we invest to achieve our growth opportunities.” 

“Fuelled by deep consumer connections, compelling product innovation and an expanding digital advantage, we have the right playbook to navigate volatility and create value through our relentless drive to serve the future of the sport,” adds Donahoe. 

Matt Friend, executive vice president and chief financial officer at Nike said, “Our third-quarter results demonstrate Nike’s ability to navigate through volatility, while continuing to serve consumers directly and digitally, at scale. 

He adds, “Marketplace demand continues to significantly exceed available inventory supply, with a healthy pull market across our geographies.”

Nike Direct, the company’s direct sales platform, saw its sales rise 15 per cent YoY to US$4.6 billion. 

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