Tigerong
2022-08-21

Nike is one of the largest sports apparel and footwear brands in the world.

Top athletes around the globe swear by Nike’s innovative footwear, and the company has a strong brand presence that keeps it at the top of consumers’ minds.

The company has reported a steady set of financials for its latest fiscal year ended 31 May 2022 (FY2022).

Revenue inched up 5% year on year to US$46.7 billion despite supply chain disruptions as demand stayed firm.

Gross profit rose 8% year on year to US$21.5 billion as gross margin crept up from 44.8% in FY2021 to 46% in FY2022.

Net profit increased by 6% year on year to US$6 billion.

Nike introduced its Consumer Direct Acceleration strategy two years ago, outlining a clear vision to extend its digital presence and create deeper and more meaningful customer relationships.

This initiative is working well as the sporting company reported digital growth of 18% year on year for FY2022.

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