Considered one of the world’s most innovative companies, Nike has just announced that its shares have hit an all-time high, with product innovation and stronger investment in e-commerce driving sales.
The American sports goods company has topped analysts’ expectations, reporting a revenue of $10.66 billion and a share increase of 5.5% in its first quarter in fiscal 2020.
The latest innovation in its constant stream of new product launches is the Joyride, a cushioning platform for sneakers developed following the company’s best practices and Design Thinking approach to product innovation.
With online sales up 42% during the first quarter and the women’s business growing at a double-digit clip, Nike expects revenue growth for the year to slightly top sales growth in fiscal 2019.
The results come just two years after the brand announced a new Consumer Direct Offense to accelerate innovation and product creation, increasing speed-to-market and engaging directly with consumers, at scale.