Nike netted 4 times as much apparel revenue from this Women's World Cup than the last one
AP Photo/Seth Wenig
- Nike netted four times as much apparel revenue from this year's Women's World Cup this year as the last tournament in 2015.
- Strong jersey sales and robust China growth drove Nike's constant-currency sales up 10% and its earnings per share up 28% in the first quarter, beating Wall Street forecasts.
- Nike's stock jumped 5% in pre-market trading on Wednesday, leaving it on track to hit an all-time high.
- Watch Nike trade live.
Team USA were crowned champions at the Women's World Cup this summer. Nike has walked away a winner as well.
The sportswear titan netted four times as much apparel revenue from this year's tournament as the previous competition in 2015, CEO Mark Parker said on its first-quarter earnings call. Overall sales in its women's business jumped at least 10% "on the back of an incredible summer of celebrating female athletes," he added.
Strong demand for Women's World Cup jerseys - along with robust sales of sportswear and Jordan sneakers in China - fueled a 10% rise in Nike's constant-currency revenue last quarter, driving earnings up 28% to beat Wall Street's forecasts. Nike's stock jumped about 5% in pre-market trading, leaving it on track for an all-time high.
Nike fed the World Cup sales boom by rolling out women's shirt designs in men's sizes in more countries. It also cashed in on robust interest in French, English, Brazilian, and Nigerian women's team shirts, as well as training and lifestyle apparel tied to the Chilean and Chinese teams.
World Cup fever helped Nike.com sell more USA women's jerseys last season than it has of any soccer team's shirt ever. The buying frenzy contributed to the company becoming North America's biggest seller of bras for the first time in history.
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