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Nike Presents Exceptional Results Despite COVID

Nike published on September 22nd its quarterly results for FY2021 Q1 (June, July, August 2020). This quarter was still supposed to be heavily impacted by the COVID crisis, as most retailers are still operating at fraction of their capacity. However, vs last year, Nike managed to maintain their revenue ($10.6 billion, flat to prior year on a currency-neutral basis), and strongly increase their profitability: net income rose +11% vs last year. How did they manage such wizardry?

 1/ Digital…