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Nike to record over $10,000 sales by 2020 end

Sportswear brand Nike, which is growing at double-digit rates in the Old Continent, expects to exceed $10,000 million annually in sales and end 2020 with record turnover in the country. For the first time, Nike exceeded Adidas in footwear sales in the Germany market. Between June and November, the brand’s sales increased 14 per cent in Europe, Africa, and the Middle East (EMEA) markets, and almost all of its product categories, from sportswear to other brands such as Jordan witnessed “double-digit growth.

The growth rate in this market is also higher than that of Nike on a global scale, since, at the end of the first six months of its fiscal year, which goes from June to May, its revenue rose 9 per cent, to $21 billion. On the other hand, net profit in Europe stood at €1.1 billion, 18 per cent more than in the same period of the previous year.

Nike’s strength in Europe contrasts with the downward trend of Adidas, whose revenue has declined in this market over the past two years. In the absence of knowing the economic results of 2019, Nike managed to stop the draining in sales in Europe and ended the first nine months with revenues of 4,668 million euros.

 
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