Beaverton, Oregon – Global footwear giant Nike generated sales of $23.6bn in the first half of 2022. This is up 8.1% on the same period last year. Its accounting year ends in June.
Swings and supply chain roundabouts for Nike in H1 2022
EBIT across the business rose by 34.0% to $4.4bn in the first half of 2022.
'We are in a much stronger competitive position today than we were 18 months ago,' said CEO Joe Donahoe. 'I want to thank our roughly 75,000 global teammates for all their work.'
The company only offered analysis of its second quarter performance.
In the quarter, sales were flat, Nike said, citing supply chain challenges across the marketplace. Sales were lower in China and the Asia Pacific Latin America region because inventories were hit by coronavirus-related factory closures.
Supply chain inefficiencies benefited North America and European sales, though. This is because although there were coronavirus-related shutdowns in those regions, they were supplied by inventory that was traveling as freight from other parts of the world.