Nike hosted an earnings call for investors on Monday afternoon, in it breaking down its results for the second quarter of the 2022 fiscal year.
The call came after Nike posted earnings an hour earlier reporting second quarter revenue up just 1 percent versus the year prior to $11.4 billion, with direct-to-consumer sales increasing 8 percent to $4.7 billion and Nike brand digital sales up 11 percent.
In a press release, Nike attributed the flat revenue to ongoing supply chain challenges. It pointed to revenue declines in Asia and its Asia Pacific Latin America regions caused by “lower levels of available inventory resulting from COVID-19 related factory closures.”
On the earnings call, Nike CEO and president John Donahoe and CFO Matt Friend went into more detail on Nike’s challenges, successes, and focuses going forward. Though the quarterly calls are stuffed with brand platitudes about how generally incredible Nike is in all regards, they are also a rare source of publicly available insight from the company’s leadership about its performance. Here are some of the more interesting takeaways from the Nike Q2 2022 earnings call.