Running News Daily

Nike reported an unexpected quarterly net loss and a sales decline of 38% year-over-year. 

Digital sales soared 75%, representing about 30% of total revenue, as shoppers flocked to Nike’s website for sneakers and workout gear. 

But expenses for shipping and returns also put more pressure on the company’s profits. Nike’s margins during its fiscal fourth quarter shrank to 37.3% from 45.5% a year ago. 

Even Nike, often lauded as one of the strongest global brands in the retail industry, is taking a hit from the coronavirus pandemic. 

The Portland, Oregon-based sneaker maker on Thursday reported an unexpected quarterly net loss and a sales decline of 38% year-over-year, as its business was hurt from its stores being shut temporarily, and online revenue was not enough to make up for that. 

Its inventories also piled up, weighing on profits, as its wholesale partners such as department stores also had their shops shut and took in fewer orders for shoes and clothes. 

Nike shares were recently down around 4% in after-hours trading. 

Here’s how Nike did during its fiscal fourth quarter: 

Loss per share: 51 cents 

Revenue: $6.31 billion 

Nike reported a loss of $790 million, or 51 cents per share, during the period ended May 31, compared with net income of $989 million, or earnings of 62 cents a share, a year ago. 

Total revenue was down 38% to $6.31 billion from $10.18 billion a year ago. Sales in North America were down 46%, while sales in China were down just 3%, with many of Nike’s stores in that region reopening sooner during the pandemic than in the U.S. 

Sales at the Converse brand dropped 38%. For the Nike brand, footwear sales fell 35%, apparel was down 42% and equipment revenue tumbled 53%, as sports and many recreational activities have largely been put on hold due to the Covid-19 crisis. 

Digital sales soared 75%, representing about 30% of total revenue, as shoppers flocked to Nike’s website for sneakers and workout gear. The company had previously set a goal to reach 30% digital penetration by 2023. But that timeline was accelerated rapidly because of the pandemic. Now, the company said it is targeting its e-commerce sales accounting for 50% of overall sales “in the foreseeable future.” 

But expenses for shipping and returns also put more pressure on the company’s profits. Nike’s margins during its fiscal fourth quarter shrank to 37.3% from 45.5% a year ago. 

Analysts were calling for the company to report earnings of 7 cents per share on revenue of $7.32 billion, according to Refinitiv data. However, impact from the coronavirus pandemic makes it difficult to compare the company’s results to analysts’ estimates. 

“We are continuing to invest in our biggest opportunities, including a more connected digital marketplace,” Chief Executive John Donahoe said in a statement. 

During a call with analysts, he went on to explain that Nike will make its online business more “central” to everything the company does, and that Nike will invest in opening additional smaller-format stores that are meant for customers to do things such as pick up their online orders. It said it will open about 150 such locations globally. 

“Consumers want modern, seamless experiences, online-to-offline, so we’re accelerating our approach,” Donahoe said on the call. 

Nike said its inventories as of May 31 amounted to $7.4 billion, up 31% from a year ago. The company said the increase was due, in part, to it shipping less merchandise to its wholesale partners because of the pandemic. 

Nike said product shipments to wholesale customers were down nearly 50% during the quarter. 

As of Thursday, Nike said roughly 90% of its owned stores are back open globally. In China, almost all of its owned stores are reopened. About 85% are open again in North America. 

According to CEO Donahoe, Nike’s digital business is up triple digits, so far, in June. Bricks-and-mortar retail traffic remains below prior-year levels, he said. 

Nike is not offering a complete fiscal 2021 outlook at this time. But Donahoe said revenue should be flat-to-up compared with the prior year. 

As of Thursday’s market close, Nike shares are down less than 1% this year. The stock is up about 22% from a year ago. Nike is valued at $157.7 billion. 

Most Olympic marathoners spend their youth focused on running. They join track clubs, compete in national championships, and pursue the sport from an early age.

Julia Mayer’s journey was very different.

Today, Mayer is Austria’s marathon record holder, a multiple national record holder on the roads, and an Olympian. Yet for much of her athletic life, running was not her primary sport.

For 16 years, she played soccer.

Then she discovered something that would change her life.

“I noticed that I was really fast in the fun runs and that it was really, really fun,” Mayer said when reflecting on her transition from soccer to distance running.

What began as curiosity quickly became a passion. She eventually made the bold decision to leave soccer behind and focus entirely on running. It was a move that surprised many people around her, but Mayer believed she had found her true athletic calling.

The decision proved to be the right one.

Within a few years, Mayer developed into one of Europe’s top marathon runners. Her steady improvement carried her from local races to the international stage, where she began rewriting Austria’s record books.

She now holds Austrian records in the marathon, half marathon, and road 10K. Her marathon best of 2:26:08 established her as the fastest female marathoner in Austrian history. Her performances in the half marathon and 10K have further cemented her place among the country’s all-time great distance runners.

Her rise culminated with qualification for the 2024 Olympic Games in Paris.

Competing in the Olympic marathon represented the realization of a dream. On one of the most challenging marathon courses ever used for the Olympics, Mayer ran courageously against the strongest field in the world and finished 55th in her Olympic debut.

Behind the scenes, success has come through extraordinary dedication. During marathon preparation, Mayer trains twice a day and covers approximately 200 kilometers, or 124 miles, each week. The workload demands discipline, patience, and a deep commitment to continuous improvement. 

What makes her story especially inspiring is not simply the records or the Olympic appearance.

It is the fact that she found her greatest talent later than many elite runners.

In a sport where athletes are often identified at a young age, Mayer’s journey serves as a reminder that potential does not always reveal itself early. Sometimes it takes years of experience, a willingness to try something new, and the courage to follow a different path. 

The former soccer player who once chased a ball across a field is now chasing history on the roads of Europe.

And according to those closest to her, her best performances may still be ahead.

For runners of every age and ability, Julia Mayer’s story delivers a powerful lesson: it is never too late to discover what you are capable of.

From soccer player to Olympian, her journey proves that remarkable achievements can begin when least expected.

Megan Keith produced the performance of her career in Oslo on Thursday night, shattering one of Scotland’s longest-standing distance running records and cementing her place among Britain’s greatest female 3000m runners.

The 24-year-old clocked a sensational 8:28.35 over 3000m, breaking the Scottish outdoor record that had stood for nearly four decades. In doing so, Keith eclipsed the previous mark of 8:29.02, set by Scottish legend Yvonne Murray back in 1988, ending a record reign that had lasted 38 years.

Keith’s breakthrough run was more than just a national record. The performance also propelled her to third on the UK outdoor all-time list, placing her behind only two of Britain’s most celebrated distance runners — Paula Radcliffe, who leads the rankings with 8:22.20, and Laura Weightman, whose 8:26.07 remains the second-fastest outdoor mark by a British woman.

The significance of Keith’s achievement is amplified by the calibre of athletes she now joins in the record books. For decades, Murray’s mark stood as one of Scottish athletics’ most untouchable records, surviving generations of elite competitors. Keith has now succeeded where many outstanding runners have fallen short, announcing herself as one of the leading distance talents in British athletics.

Her time also compares favourably with the best performances produced indoors. Olympic medallist Laura Muir ran 8:26.41 indoors in Karlsruhe in 2017, underlining just how exceptional Keith’s outdoor effort in Oslo truly was.

The run continues a remarkable rise for the Scottish star, whose progression over recent seasons has transformed her from a promising prospect into a genuine force on the international stage. Running with confidence and composure against elite competition, Keith demonstrated both the speed and endurance required to challenge the very best in Europe and beyond.

With the World Championship season gathering momentum, Keith’s record-breaking display sends a powerful message. Not only has she etched her name into Scottish athletics history, but she has also established herself as a serious contender in one of the sport’s most competitive events.

In Oslo, Megan Keith did far more than break a record. She ended a 38-year wait, climbed into the upper echelon of British distance running, and delivered a performance that may prove to be a defining moment in her career.

British middle-distance talent Phoebe Gill took another significant step forward in her return to top form, producing a determined victory over 800 metres at the Meeting de Marseille in France on Wednesday.

Competing in challenging, wind-affected conditions, the 19-year-old demonstrated both resilience and composure as she held off a late charge from Switzerland's Veronica Vancardo to secure the win in 2:00.81. Vancardo finished just three hundredths of a second behind in 2:00.84, underlining the fiercely contested nature of the race.

While the margin of victory was narrow, the result represented another encouraging milestone for Gill as she continues to rebuild momentum following her injury setback. The young Briton showed impressive race awareness and strength in the closing stages, maintaining her advantage despite the difficult conditions that made fast running a challenge throughout the evening.

The Marseille triumph adds to a growing body of evidence that Gill is steadily progressing toward her best form. Earlier in her comeback campaign, she clocked 2:01.50 for 800m in Bydgoszcz before demonstrating her versatility with a strong 4:05.53 performance over 1500 metres at the BMC Grand Prix meeting in Trafford.

Those performances have highlighted not only her improving fitness but also her ability to compete across multiple distances as she carefully builds her season. The Marseille victory now provides further confirmation that the European junior star is moving in the right direction.

Gill emerged as one of Britain's most exciting middle-distance prospects through a series of breakthrough performances as a teenager, earning widespread recognition for her fearless racing style and remarkable maturity. Injury temporarily interrupted that upward trajectory, but her recent results suggest she is steadily rediscovering the form that made her one of the sport's brightest young talents.

With each race, the signs of progress become increasingly evident. Winning in difficult conditions and under pressure from a quality field is often a stronger indicator than a fast time alone, and Gill's latest success demonstrated exactly those qualities.

As the summer season gathers pace, the Marseille victory offers another confidence boost for the British teenager, whose return continues to gain momentum. If her recent progression is any indication, Gill could soon find herself back among the leading names on the European middle-distance circuit. 

The NCAA Track and Field Championships delivered a moment few could have predicted as Ja’Kobe Tharp produced one of the most astonishing performances in the history of sprint hurdling, rewriting the record books in spectacular fashion.

Competing in the opening round of the men’s 110-meter hurdles, the Auburn star stunned the athletics world by clocking an incredible 12.75 seconds, becoming the first athlete ever to break the 12.80-second barrier. In doing so, he eclipsed the long-standing world record of 12.80 set by Aries Merritt in 2012, a mark that had stood as one of the sport’s most revered achievements for more than a decade.

What makes Tharp’s breakthrough even more remarkable is the scale of his improvement. Entering the championships, the defending NCAA and U.S. champion had recorded a season-best of 13.05 seconds. Yet under the brightest spotlight, he unleashed a performance that exceeded every expectation, slicing an extraordinary 0.26 seconds from his personal best in a race that instantly became one of the greatest ever run.

The achievement sent shockwaves throughout the track and field community. While Tharp arrived in Eugene as one of the leading contenders for the NCAA title, few envisioned a performance capable of redefining the limits of the event. Instead, the American hurdler delivered a race for the ages, combining flawless technique, explosive speed, and impeccable rhythm from the first hurdle to the finish line.

The historic run not only secured his place in athletics history but also transformed the outlook of the championship. With the world record now in his possession, Tharp advances to the final as the overwhelming favorite, carrying momentum that could make an already unforgettable weekend even more extraordinary.

For years, the 12.80 barrier appeared untouchable. On a stunning day at the NCAA Championships, Ja’Kobe Tharp proved otherwise, producing the kind of performance that reminds fans why sport remains so unpredictable. In a matter of seconds, he turned a routine qualifying round into a landmark moment that will be remembered for generations.

The world record no one saw coming is now a reality—and Ja’Kobe Tharp is the man who changed history.

A new chapter in middle-distance running may have begun in Oslo after American teenager Cooper Lutkenhaus produced one of the most remarkable performances of the season, narrowly defeating reigning Olympic champion Emmanuel Wanyonyi in a thrilling men's 800m contest at the Diamond League meeting.

The 17-year-old sensation shocked a world-class field by crossing the finish line first in a race that came down to the smallest of margins. After an intense battle over the final metres, Lutkenhaus held off Wanyonyi by just one hundredth of a second, producing a dramatic finish that left the packed stadium in disbelief.

From the opening lap, the pace was relentless as the leading contenders positioned themselves for a fierce showdown. As the athletes entered the home straight, Wanyonyi appeared poised to unleash his trademark finishing kick. However, Lutkenhaus refused to be intimidated, matching the Olympic champion stride for stride before producing a perfectly timed lean at the line to secure a historic victory.

The result marks a breakthrough moment for the young American, who continues to establish himself as one of the brightest talents in global athletics. Defeating an Olympic champion at a Diamond League event is a feat many athletes spend entire careers pursuing, yet Lutkenhaus achieved it before reaching adulthood.

For Wanyonyi, the narrow defeat does little to diminish his status as one of the world's premier 800m runners. The Kenyan once again demonstrated his exceptional class and competitiveness, pushing the race to a world-class standard and forcing his young rival to deliver the performance of a lifetime.

Beyond the result itself, the race offered a glimpse into what could become one of the sport's most exciting rivalries in the years ahead. With established stars and emerging talents now pushing each other to new heights, the men's 800m continues to evolve into one of athletics' most captivating events.

On a memorable night in Oslo, the spotlight belonged to Cooper Lutkenhaus. At just 17 years old, he stood toe-to-toe with an Olympic champion and emerged victorious, announcing himself to the athletics world in spectacular fashion.