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Nike forecasts online sales boom as it posts better than expected results

Nike forecasts online sales boom as it posts better than expected results
irishtimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from irishtimes.com Daily Mail and Mail on Sunday newspapers.

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Nike forecast for online sales boom, post-lockdown demand drives shares up

By Nivedita Balu and Richa Naidu
(Reuters) -Nike Inc on Thursday forecast fiscal full-year sales ahead of Wall Street estimates, betting on its online business, higher demand as lockdowns ease, and its tried-and-tested strategy of limiting stock for popular products.
The sneaker maker s shares rose nearly 13% after the bell as the company also posted better-than-expected quarterly earnings and revenue.
After staying at home for more than a year and limiting themselves to leisure-wear and comfortable pajamas, consumers are back to buying sneakers for running and hiking as they return to their routines, thanks to rapid vaccinations.
There were definite reasons for optimism and confidence, like the return to sport, Chief Financial Officer Matthew Friend said on an earnings call, adding that Nike has already begun to see an acceleration in its sport performance business. ....

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Wealthy people changed the way they gave to charity during the pandemic

One way wealthy people changed their charitable giving during the pandemic
MarketWatch
4 hrs ago
Leslie Albrecht
© Photo by FREDERIC J. BROWN/AFP via Getty Images
Affluent households focused their donations to charity in one particular area in 2020.
The global upheaval of 2020 didn’t inspire more wealthy people to give to charity, but it did change where and how they did their giving.
That’s about the same percentage as the last edition of the study, which looked at 2017 charitable giving and found that 90% of affluent households donated that year.
‘This sustained commitment by donors shows the importance of a strategic approach to philanthropy that is still flexible enough to respond to a sudden surge in need.’ Ann Limberg, head of Philanthropic and Family Office Solutions, Bank of America Private Bank ....

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Texas Qualifier Results - Konstanze Klosterhalfen Sets German 10,000-Meter Record

Klosterhalfen followed Keira D’Amato for the first 13 minutes of the race, before making a move. The 5,000-meter bronze medalist came through the first half of the race in 15:42, and continued to run away from the field. Running an average of 4:59 per mile, Klosterhalfen lapped the entire field and ultimately achieved the
Olympic standard by running well under 31:25.00 on Saturday night.
“I feel a bit on a different planet,” Klosterhalfen told announcers on the broadcast, which was live streamed on the
Citius Mag YouTube channel. “I still cannot believe I’m here in Texas. I’m very happy and overwhelmed.” ....

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Skechers Expects Double-Digit Sales Growth in China to Continue for Next Five Years

Skechers Expects Double-Digit Sales Growth in China to Continue for Next Five Years
Liao Shumin
Skechers Expects Double-Digit Sales Growth in China to Continue for Next Five Years
(Yicai Global) Dec. 23 Skechers expects to maintain double-digit sales growth in China over the next five years as the American sports shoe brand’s sales in the country accounted for almost half of its global turnover last year, The Paper reported yesterday, citing the chief executive officer of Skechers China, South Korea and Southeast Asia.
Last year, the firm’s worldwide sales reached a record high of USD5.22 billion, 48 percent of which came from its 3,000 stores in China, said Willie Tan. ....

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