Nike reports 36 percent digital growth amid COVID-19 outbreak

Nike revenues increased to 10.1 billion dollars in the third quarter, up 5 percent on a reported basis and up 7 percent on a currency-neutral basis, driven by 13 percent currency-neutral growth in Nike Direct with digital growth of 36 percent and strong growth across EMEA, APLA and North America, offset by the impact of COVID-19 on the company’s business in Greater China. The company’s net income decreased 23 percent to 847 million dollars and diluted earnings per share decreased 22 percent to 53 cents as strong revenue growth in Nike Direct and across EMEA, APLA and North America was offset primarily by the non-recurring charge and the impacts to Greater China from COVID-19.