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Corona crisis pushes Nike profit – Adidas with optimism

Nike scores in the past quarter despite the corona crisis. Group sales are dropping somewhat, but booming online trading and the associated lower costs have brought the world’s largest sporting goods manufacturer a significant increase in profits. Competitor Adidas is also becoming more confident and wants to show even more presence with new collaborations.

The most important things about Nike and Adidas in advance:

  • Nike with strong online trade
  • Adidas notices rising demand

The coronavirus pandemic and its effects have hardly left any traces on the quarterly balance sheet of the world’s largest sporting goods manufacturer Nike. On the contrary: The US group and Adidas rival reported a leap in profits. The online business was responsible for this.

According to Nike, the group’s sales in the past quarter were 10.6 billion dollars, around one percent below the comparable figure for the previous year. Above all in the important Chinese market, however, demand has picked up again noticeably: there, sales rose by six percent. In online retail, Nike posted an increase of more than 80 percent.

In the three months to the end of August, Nike reportedly earned about $ 1.5 billion. That was eleven percent more than a year ago. Nike was able to clearly exceed the expectations of the analysts (FactSet) with the quarterly figures.

Products on Nike

Competitor Adidas has also been looking up recently. Since the end of the second quarter, the sales trend has recovered, said the German sporting goods manufacturer. The group senses brisk demand in the stores that are open. Adidas wants to score further with new marketing measures. Successful soccer coach Jürgen Klopp was won as an advertising medium, although his club, Liverpool FC, is under contract with Nike.

Another sensational collaboration was announced this week. Together with the toy manufacturer Lego, Adidas will bring a sports shoe onto the market. The colorful shoe has already been presented and has Lego graphics incorporated in the back and a small Lego brick will be placed in the middle of the laces. While the Adidas share is still in the red for this year (-6.2%), the price recovery at Nike brought the stock back into the positive zone (+ 15.4%).

Products on adidas

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Source: HSBC

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