Beaverton, Oregon – Global footwear giant Nike's sales were $12.2 bn in the first quarter of its 2022 accounting year, which started in June . This is up 15% on the same period last year.
EBIT across the business rose by 22.2% to $2.2bn in the quarter.
'Nike's strong results this quarter are continued proof of our deep consumer connections,' said CEO John Donahoe.
The company said that sales in North America and EMEA grew by a double-digit percentage in the quarter. Profitability also increased because it managed to sell more footwear directly to consumers in the quarter than before.
This strong demand helped the company maintain its inventory level compared with the first quarter of 2021. This is despite extended lead-times from ongoing supply chain disruptions, it said.
Nike also spent $918m on advertising and demand creation in the quarter. This is up 36% on the first quarter of last year, when sporting events were cancelled because of the coronavirus pandemic.