Reported by 21st Century Business Herald reporter He Hongyuan and intern Wu Fangyi
It's not easy for Nike to build its own channels.
The company's recently disclosed performance for the third quarter of the 2024 fiscal year shows that as of February 29, 2024, Nike's revenue was $12.43 billion, a year-on-year increase of 0.3%; The net profit attributable to the parent company was 1.17 billion US dollars, a year-on-year decrease of 5.5%.
Specifically, in the current period, Nike's brand revenue was 11.95 billion US dollars, a year-on-year increase of 2% (excluding the impact of exchange rates, a year-on-year increase of 2%); Converse's brand revenue was $500 million, a year-on-year decrease of 19% (excluding the impact of exchange rates, a decrease of 20%).
Looking at the Nike brand by category, the footwear revenue for the current period was 8.16 billion US dollars, a year-on-year increase of 3%; The clothing revenue was 3.29 billion US dollars, a year-on-year decrease of 3%; The accessory revenue was 490 million US dollars, a year-on-year increase of 20%.
From the perspective of Nike brand segmentation, the company's headquarters in North America had a revenue of 5.07 billion US dollars, a year-on-year increase of 3%. Among them, Nike's direct online/offline/wholesale sales increased by 1%/3%/5% year-on-year respectively; EMEA (Europe, Middle East, and Africa) market revenue was 3.14 billion US dollars, a year-on-year decrease of 4%; The revenue of APLA (Asia Pacific and Latin America) region was 1.65 billion US dollars, a year-on-year increase of 4%.
The Greater China region has become the driving force behind Nike's brand sales growth, with six consecutive seasons of positive growth in the region. In the third quarter, the revenue of Greater China was 2.08 billion US dollars, a year-on-year increase of 6%. From a category perspective, footwear revenue in Greater China increased by 3% and clothing revenue increased by 8%.
On the other hand, Nike's online channels in Greater China have suffered setbacks. In the current period, Nike's direct sales decreased by 1%, mainly due to a 13% decline in online sales, and Nike's offline stores increased by 6%; Wholesale channels increased by 12%. Nike's Greater China partners achieved double-digit growth in retail sales in the third quarter.
Or just because Nike felt the pressure of growth online, it launched live broadcast in Tiktok in February this year. The company will be inspired by various global concept stores in every live broadcast room on Tiktok. Nike claims that this will create an online and offline omnichannel service membership system, which may also be another way of balancing interests between channels.
Overall, Nike is maintaining growth in China, but its operations are clearly becoming more complex.
On March 25, 2024, the Shanghai Consumer 80 Index closed at 4726.62, a decrease of 0.54%.
Agriculture
The average price of pork in the national agricultural wholesale market has decreased
On March 25th, according to the monitoring of the Ministry of Agriculture and Rural Affairs, as of 2:00 pm that day, the average price of pork in the national agricultural wholesale market was 20.26 yuan/kg, a decrease of 0.2% from last Friday.
Food and Beverage
In 2023, the brewing industry achieved a cumulative profit of 262.82 billion yuan
On March 22nd, the sixth (expanded) meeting of the sixth council of the China Liquor Industry Association was held in Luzhou. At the meeting, the China Wine Association released data showing that the total output of Baijiu industry in China last year was 6.29 million kiloliters, down 5.1% year on year; Completed sales revenue of 756.3 billion yuan, a year-on-year increase of 9.7%; The total profit was 232.8 billion yuan, a year-on-year increase of 7.5%. In 2021 and 2022, the total profit growth of the national Baijiu industry will be 32.95% and 29.36% respectively.
Golden Dragon Fish Revenue Decline
On March 22nd, Golden Dragon Fish released its 2023 annual financial report. In 2023, the company's revenue was 251.5 billion yuan, a year-on-year decrease of 2.3%; Realized a net profit of 2.85 billion yuan, a year-on-year decrease of 5.4%
Nongfu Spring Responds to Rumors of Public Welfare Donations Again
On March 23rd, according to multiple media reports, Nongfu Spring's internal website once again released an internal letter titled "Speak Out about 24000 Bottles of Water's" Internet Fury "in response to recent rumors of public welfare donations. In the internal letter, it was mentioned that the company has granted the decision-making power to donate 10000 boxes (24000 bottles) to various provincial-level regions and 1000 boxes (24000 bottles) to offices. In the event of a disaster, it will be automatically activated without reporting to the headquarters. So the first batch of 24000 bottles of water during the Gansu earthquake was produced under this system.
Japanese liquor company urgently recycles 96000 bottles of wine
On March 24th, according to media reports, Japanese liquor company Baojiu announced that it had decided to independently recycle approximately 96000 bottles of a wine produced by the company, which used red yeast raw materials provided by Kobayashi Pharmaceutical Company. There are currently no health damage reports related to this product from Baojiu Manufacturing Company.
The price of chocolate in the UK has skyrocketed
On March 24th, according to CCTV Finance, at the end of this month, Western countries will welcome Easter, and chocolate is the most indispensable part of the festival. However, this year, due to factors such as pests and diseases, as well as extreme weather, cocoa production in many West African countries has significantly decreased, which has also led to a significant increase in the price of chocolate. Industry experts say that with the increase in chocolate demand and the decrease in cocoa supply, it is expected that chocolate prices will remain high.
Zhong Ting has become the richest person in China for the fourth consecutive time
On March 25th, Hurun Research Institute released the 2024 Hurun Global Rich List of Big Industry Wines. According to Hurun Baifu's official account, China has 814 billion dollar entrepreneurs, ranking first in the world. Among them, the total wealth of Chinese entrepreneurs worth one billion US dollars is nearly 19 trillion yuan, a decrease of 15% from last year. 241 people's wealth has increased compared to last year, including 55 new faces. The number of new faces ranks third in the world. There are 27 entrepreneurs worth billions, a decrease of 9 compared to last year. At the age of 70, Zhong Ting's wealth has shrunk by 9% compared to last year, becoming China's richest person for the fourth consecutive time with 450 billion yuan.
Catering
Revenue increased by 49.4% year-on-year for 99%
On the evening of March 22nd, 99% disclosed their 2023 annual report. In 2023, Jiumao's revenue was approximately 5.986 billion yuan, a year-on-year increase of 49.4%; The net profit was 453 million yuan, a year-on-year increase of over 800%.
Ba Wang Cha Ji establishes an enterprise management company in Shanxi
On March 22, according to the national enterprise credit information publicity system, Shanxi Chaji Enterprise Management Co., Ltd. was established with Shang Xiangmin as its legal representative and a registered capital of 1 million yuan. Its business scope includes enterprise management, catering management, supply chain management services, organization of cultural and artistic exchange activities, Internet live broadcast technology services, alcohol business, etc. The equity panoramic view shows that the company is wholly owned by Sichuan Chaji Enterprise Management Co., Ltd., a subsidiary of Bawang Chaji.
Cha Bai Dao's IPO hearing on the Hong Kong Stock Exchange
On March 24th, according to documents from the Hong Kong Stock Exchange, Sichuan Baicha Baidao Industrial Co., Ltd. ("Cha Baidao") submitted a set of listing hearing materials to the Hong Kong Stock Exchange, with China International Capital Corporation (CICC) as the exclusive sponsor.
Xicha Official Health Recommendation Officer Pamela
On March 25th, HEYTEA officially announced its collaboration with global top fitness blogger Pamela Reif, inviting her to serve as HEYTEA's "Health Recommendation Officer" for 2024.
E-commerce retail
The 10th M member store settled in Yancheng
On March 24th, Gaoxin Retail M Member Store officially signed a contract to settle in Yancheng City, Jiangsu Province. According to 36 Kr, this is the 10th store of M membership store in China and also the first store of membership store in Yancheng.
Film and entertainment
Youku and Tomato Novel Collaborate
On March 25th, according to Youku, the company recently reached a cooperation agreement with Tomato Novel, and both sides will deeply explore "super IPs" to jointly promote the implementation of high-quality content in film and animation.
Tourism travel
Many scenic spots in Gansu launch preferential policies to help Spicy Hot Pot
On March 24, the Department of Culture and Tourism of Gansu Province announced that the recent "Spicy Hot Pot in Gansu" has attracted the attention of numerous netizens and tourists, and tourists from all over the country have come to enjoy food, beauty and Tianshui in the Dragon City. In order to connect with the "sky shattering wealth and honor" and showcase the sincere, sincere, and enthusiastic hospitality of the people of Gansu, cultural and tourism departments at all levels in Gansu Province quickly took action and mobilized A-level tourist attractions to formulate a series of preferential policies for scenic spot ticket reductions. We sincerely invite domestic and foreign tourists to experience the symphony of the Silk Road and enjoy a pleasant trip to Gansu. According to the news, the preferential policies for A-level tourist attractions in Gansu Province will be implemented from March 23 to April 30, May 1 to June 30, and March 23 to December 31, with various preferential measures such as free admission or half price admission for scenic spots.