Nike reports a revenue increase of $10.9 Billion in Q3

According to official earnings data released by the brand, Nike’s revenue totalled $10.9 billion in Q3, roughly a 5% increase from the previous year. Sales at Nike have continued to grow steadily ever since the start of the pandemic, as more and more people have become interested in the sneaker scene, which was already booming. Nike’s CEO John Donahue stated “Nike’s strong results this quarter show that our consumer direct Acceleration strategy is working, as we invest to achieve our growth opportunities. Fueled 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 sport.”

Converse also released its sales data, amassing $567 million USD, 1% down on a year-on-year basis, however still a considerably strong figure. Make sure to keep it locked right here at The Sole supplier for all the latest sneaker news and updates and while you are here, check out the fourth Union LA x Nike dunk low colourway!

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