Nike's earnings for Quarter 1 were just announced, and they cleared the $8.22 billion that Wall Street was projecting, eclipsing $8.4 billion in sales.
In comparison, Under Armour did $784 million in sales for Quarter 1 which is the equivalent to about nine days for The Swoosh.
Furthermore, Nike spent an astounding $832 million on marketing alone in Quarter 1, which is more than UA did in sales for the quarter. For those scoring at home, that means Nike spent $9 million a week in marketing, or roughly $1.3 million PER DAY.
Just in case anybody forgot who the bully on the block was, and will likely be for the foreseeable future.
NKE Q1 sales $8.4 billion. Wall Street was looking for $8.2 billion. Beat on earnings as well #stillkillingit— Matt Powell (@NPDMattPowell) September 24, 2015
Revenues for the NIKE Brand $7.9 billion, up 15% on a currency-neutral basis with growth in every geography and nearly every key category.— Matt Powell (@NPDMattPowell) September 24, 2015
Revenues for Converse were $555 million, up 3 percent on a currency-neutral basis, mainly driven by strong growth in the United States,— Matt Powell (@NPDMattPowell) September 24, 2015
Nike stock up 5% after hours— Matt Powell (@NPDMattPowell) September 24, 2015
Nike CEO Mark Parker: "The potential for Converse has never been greater."— Darren Rovell (@darrenrovell) September 24, 2015