June 28, 2011, 2:44 PM

Nike runs up a 31% growth rate in e-commerce

Web sales top $340 million in fiscal 2011.

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The growth in web sales easily outran the increase in total revenue for Nike Inc. in fiscal 2011.

For the fiscal year ended May 31 Nike, No. 78 in the Internet Retailer Top 500, reported.

  • An increase in web sales of 31%. Based on that percentage and other e-commerce sales figures cited by Nike in earlier analyst calls and earnings reports, Internet Retailer calculates web sales grew year over year to about $340.6 million from $260.0 million.
  • Total sales grew 10% to $20.9 billion from $19.0 billion in fiscal 2010.
  • Net income increased 10.5% to $2.1 billion from $1.9 billion.

“We continue to deliver compelling innovation to athletes and consumers, and strong returns for our shareholders,” says CEO Mark Parker. “The global appetite for sports has never been stronger.”

Internet Retailer calculates the web accounted for 1.6% of total sales in fiscal 2011 compared with 1.4% in fiscal 2010.

Nike doesn’t break out quarterly e-commerce metrics, but for the fourth quarter reported:

  • Total sales grew 13.7% to $5.8 billion from $5.1 billion in Q4 fiscal 2010.
  • Net income increased 13.8% to $594.0 million from $522.0 million.
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