CLAIM #46133 · Nike Inc (NKE) · 2022Q2 earnings call · Dec 20, 2021 · due Feb 28, 2022
“We expect, as supply normalizes, to see sequential improvement versus the results that we delivered in the second quarter.”
Matt Friend · CFO
In context
“we’re focusing on the long term. We’re getting a little bit better each quarter, and we’re going to continue on that path, working closely with our team there. Matt Friend: I might just add one small thing, which is we restarted brand activity, as I mentioned in my prepared remarks. And our demand creation investment was up 40% versus the prior year. And if you look at it on a dollar basis, it’s an even greater percentage versus what we invested in the first quarter. And so, we -- and we’re seeing a favorable consumer response. And we expect those investments to pay dividends as we look towards the future and continue to engage in locally relevant ways with consumers. Adrienne Yih: Great. Matt, how should we shape China in the third quarter relative to the guidance you gave? Matt Friend: We expect, as supply normalizes, to see sequential improvement versus the results that we delivered in the second quarter. Operator: Your next question comes from the line of Omar Saad with Evercore. Omar Saad: I wanted to see if you guys could maybe touch upon Omicron. I know it’s really still early, but you guys have, as you mentioned, tens of thousands of teammates all around the world. It’s obviously a fast-developing phenomenon. Maybe you could touch upon how you incorporated anything related to Omicron in your guidance? And is it something that we should not only be thinking about from the demand perspective, but is it the kind of situation that could also disrupt the supply chain again in the coming months, or do you feel like it’s fortified to the extent where we can withstand this latest variant? Thanks, guys. John Donahoe: Omar, let me start and maybe talk about our team, and then, Matt, you can may”
Verify independently
SEC filings for NKE ↗ · Claim quote is verbatim from the 2022Q2 earnings call.