Jordan news and archive

Hibbett Sports opens new store in California

US-based sports apparel retailer, Hibbett Sports has announced it’s opening a new store in Richmond, California. The new shop is located at 3500 B. Klose Way in the Hilltop Plaza in Richmond and adds to the company’s already one thousand plus stores. The 5,000 square foot boutique-style space offers an open concept with easy exploration of new...

Business

Nike, Michael Jordan, and Jordan Brand open grant to help fight racism

In partnership with Michael Jordan and Jordan Brand, Nike has announced its Community Grants’ opening, aiming to provide 1 million dollars to organizations in the fight against racism. The new grant program is part of a 10-year, 100 million dollar commitment to the Black community by focusing on social justice, education, awareness, and economic...

BusinessFeatured

Nike posts marginal rise in Q3 sales

For its third quarter, Nike reported revenues of 10.4 billion dollars, up 3 percent compared to the prior year and down 1 percent on a currency-neutral basis led by Greater China reporting revenue growth of 51 percent. Gross margin for the quarter increased 130 basis points to 45.6 percent and net income was 1.4 billion dollars, up 71 percent....

Business

Nike second quarter revenues increase 9 pecent

Second quarter revenues for Nike, Inc. increased 9 percent to 11.2 billion dollars compared to the prior year, up 7 percent on a currency-neutral basis. The company said in a statement that revenues for the Nike brand were 10.7 billion dollars, an increase of 8 percent to prior year on a currency-neutral basis driven by strong double-digit...

BusinessFeatured

Nike's online sales surge 82 percent, posts rise in profit

For its first quarter, Nike, Inc. reported revenues of 10.6 billion dollars, down 1 percent on a reported basis and flat to prior year on a currency-neutral basis. The company said in a statement that Nike Direct sales were 3.7 billion dollars, up 12 percent on a reported basis, and up 13 percent on a currency-neutral basis, with growth across...

BusinessFeatured

Nike posts Q4 loss, sales drop 38 percent

Nike, Inc. has announced that its fourth quarter revenues decreased 38 percent to 6.3 billion dollars, down 36 percent on a currency-neutral basis, primarily due to owned and partner physical store closures across North America, EMEA and APLA due to Covid-19, partially offset by growth in Greater China. The company’s gross margin decreased 820...

BusinessFeatured

Nike's Q1 earnings jump 28 percent

For its first quarter to August 31, 2019, Nike, Inc. said, revenue increased to 10.7 billion dollars, up 7 percent on a reported basis and 10 percent on a currency-neutral basis, driven by growth across all geographies. The company added that diluted earnings per share for the quarter were 86 cents, an increase of 28 percent driven primarily by...

People

Nike names Craig A. Williams President of Jordan brand

Craig. A Williams is Nike’s new President of the Jordan brand, effective January 14. He will be the joining the company from Coca-Cola, where he worked since 2005 serving most recently as Senior Vice President and President of the McDonald’s Division Worldwide, overseeing the beverage company’s strategic partnership with more than 37,000...