Nike Inc. reported earnings and sales came in well above Wall Street's consensus estimates in the fourth quarter ended May 31. Revenues grew 96 percent year-over-year, supported by a 73 percent jump in Nike Direct sales. Sales in North American climbed 141 percent year-over-year and 29 percent compared to the fourth quarter of 2019.
Lululemon Athletica Inc. continued its recent roll, delivering first-quarter sales and earnings that surpassed guidance and slightly increasing its outlook for the year. Highlights included 26 percent growth in men’s, a ramped-up push on the run category and 70 percent expansion in China.