Nike Shares Soar After Sales and Profit Surge

Nike experienced a significant rally, positively affecting its rivals. Despite a previous quarter loss, Nike exceeded expectations with an 82% increase in online sales and a $1.5 billion revenue beat. Growth in China and improved margins returned Nike to profitability. The CEO highlighted the company's resilience in product output despite pandemic disruptions. China, recovering faster from the pandemic, was a key driver in Nike's recovery, with a 6% sales increase. In contrast, North American sales declined by 2% due to varied lockdowns and reduced demand for team apparel. Overall, Nike's performance was better than anticipated.

In what ways did the recovery in China differ from that in the US?

What challenges did Nike face in the US market during the pandemic?