NIKE Inc. (NKE) shares gained 14.10% in after-hours on Thursday, June 24, 2021, and closed the day at $152.44 per share. Earlier, NKE’s stock gained 0.38% to close Thursday’s session at $133.60 per share. NKE shares have risen 33.49% over the last 12 months, and they have moved up 3.63% in the past week. Over the past three months, the stock has gained 3.86%, while over the past six months, it has declined 6.21%.

Let’s see what are the latest news and developments about NIKE?

Latest financial results announcement

On June 24, 2021, NIKE, Inc announced its financial results for its fiscal 2021 fourth quarter and full-year ended May 31, 2021.

Q4 2021 financial highlights

• Nike earned a revenue of$12.3 billion for Q4 2021 compared to $6.31 billion for Q4 2020.
• The gross margin was 8 percent for Q4 2021 compared to 37.3% in Q4 2020.
• Selling and administrative expenses were $3.74 billion for Q4 20201 compared to $3.19 billion in Q4 2020.
• For Q4 2021, net income was $1.5 billion, and diluted earnings per share were $0.93 compared to a net loss for the fourth quarter of 2020 of $790 million and a net loss per share of $0.51.

FY2021 financial highlights

• NIKE reported revenue of$44.5 billion for FY 2021 compared to $37.4 billion for FY 2020.
• The gross margin was 8 percent for FY 2021 compared to 43.4% for FY 2020.
• Selling and administrative expenses were $13.03 billion compared to $13.13 billion for FY 2020.
• Nike net income was $5.7 billion and diluted earnings per share were $3.56 for FY 2021 compared to $2.54 billion and diluted earnings per share was $1.60 for FY 2020.
• As of May 31, 2021, Nike had cash and equivalents and short-term investments of $13.5 billion.

New Space Jam gear

On June 9, 2021, Nike launched new Space Jam gear. The footwear introduces a new generation of fans to the world of Looney Tunes, featuring colourways and graphic treatments that highlight different characters.

New customizable Pride collection

On June 5, 2021, Nike introduced its 2021 Be True collection that puts sport and radical inclusivity together.

The new customizable collection is supporting more than 20 organizations advancing the LGBTQIA+ community, with some grants administered by the Charities Aid Foundation of America.

Dividend declaration

On June 5, 2021, the Board of Directors of NIKE declared a quarterly cash dividend of $0.275 per share on the company’s outstanding Class A and Class B Common Stock payable on July 1, 2021, to shareholders of record at the close of business June 1, 2021.

Conclusion

Well, the much-improved financial results announcement was the reason behind its gains on Thursday and NKE can continue to surge on the last day of the week as well.