SPORTSWEAR firm Nike has seen a huge rise in online sales as it bounces back from a coronavirus slump.<\/p>\n
The US company saw digital sales rocket 82% during the June to August quarter, offsetting falling revenue in its stores.<\/p>\n
On Tuesday, Nike posted revenue of $10.6bn (\u00a38.3bn) as many of its key markets recovered including China.<\/p>\n
For its previous quarter revenues were down by more than a third as it tackled store closures and lock-downs globally.<\/p>\n
Nike chief executive John Donahoe said the shift to online sales could be a permanent trend.<\/p>\n
\u201cWe know that digital is the new normal. The consumer today is digitally grounded and simply will not revert back,\u201d Mr Donahoe said.<\/p>\n
Sales are growing in its major markets including China, Japan, South Korea and the UK, while its core North American market is declining.<\/p>\n
Nike\u2019s shares rose more than 10% in late trading in the US, as the results were better than Wall Street had expected.<\/p>\n
Nike has been using its website and shopping apps to release limited edition footwear.<\/p>\n
The sportswear giant has been transforming itself to sell directly to customers over the past few years, reducing its store presence and retail partners.<\/p>\n
While many gyms have been closed during the pandemic, sportswear makers have reported strong demand for more casual attire as more people work and exercise at home.<\/p>\n
Rival Adidas said last month that it was seeing improving sales trends while yoga pants maker Lululemon posted a 157% jump in its online business.<\/p>\n
Like many other retailers, Nike is still limiting the number of people who can come into its stores at once to try to help curb the spread of the virus.<\/p>\n
But when people do visit, they\u2019re coming with the intent to buy, Nike said.<\/p>\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
SPORTSWEAR firm Nike has seen a huge rise in online sales as it bounces back from a coronavirus slump. The US company saw digital sales rocket 82% during the June to August quarter, offsetting falling revenue in its stores. On Tuesday, Nike posted revenue of $10.6bn (\u00a38.3bn) as many of its key markets recovered including […]<\/p>\n","protected":false},"author":84,"featured_media":2798,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,9],"tags":[733],"class_list":{"0":"post-28069","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-all-news","8":"category-miscellaneous","9":"tag-miscellaneous"},"yoast_head":"\n