Nike netted four times as much apparel revenue from this year’s Women’s World Cup than the last tournament in 2015, CEO Mark Parker said on it first-quarter earnings call yesterday.
Overall sales in its women’s business increased 10% “on the back of an incredible summer celebrating female athletes,” he said.
Strong demand for Women’s World Cup jerseys, along with increased sales of sportswear and Jordan sneakers in China, fueled a 10% increase in Nike’s constant-currency revenue last quarter, propelling earnings up 28% to exceed Wall Street’s projections. Nike’s stock also jumped about 5% in pre-market trading, putting it on track for an all-time high.
By selling women’s shirt designs in men’s sizes in more countries, Nike fed the World Cup sales boom. As a result, the company has sold more USA women’s jerseys this season than it has of any other soccer team’s shirt ever.
Nike also fed the World Cup sales boom by taking advantage of interest in French, English, Brazilian, and Nigerian women’s team shirts, as well as training and lifestyle apparel tied to the Chinese and Chilean teams.
Prior to Team USA winning the Women’s World Cup this summer, high-profile member of the Women’s National Team and equal-pay activist Megan Rapinoe rejected an invite to the White House, causing some controversy. “I’m not going to the f—— White House,” she said. The President then took to Twitter and said she should win the tournament before talking.
Following the 2019 Women’s World Cup, both Team USA and Nike are winners.
Sources: Business Insider 9/25/19; Business Insider 7/8/19; TWP 7/10/19