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Why Nike Stock Jumped Today

TheMotleyFool

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Shares of Nike (NYSE: NKE) popped 6.2% on Tuesday after the athletic apparel titan's fiscal 2022 second-quarter earnings exceeded investors' expectations.

Nike's revenue inched up 1% year over year to $11.4 billion, driven in part by a 12% jump in digital sales.

Nike's gross profit benefited from a 9% rise in direct sales, which include those produced by its retail stores and e-commerce sites, to $4.7 billion. These sales tend to be more profitable than the company's wholesale operations. Nike's gross margin, in turn, improved by 2.8 percentage points to 45.9%.

Source Fool.com

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