Nike 2Q Profits Up By 22 Percent
Beaverton, OR, United States (AHN) – Nike Inc. topped expectations on Tuesday, reporting a 22 percent jump in income for the second quarter.
The world’s largest maker of sports shoes said its net income for the period ended Nov. 30 rose to $457 million from $375 million in the same quarter the previous year. Earnings per share spiked 24 percent to 94 cents.
Adjusted for currency changes, revenues increased 10 percent to $4.8 billion from $4.4 billion.
Apparel remained the top seller among categories in the North American market, growing 22 percent. Revenues in China increased 20 percent, driven by a 26 percent rise in sales of footwear.
Emerging markets grew 24 percent and contributed $755 million, nearly half of all the revenues in North America.
Revenues declined in Japan by a total of 14 percent, and in Western Europe by 7 percent.
Future orders likewise increased by double-digits, totaling $7.7 billion or 11 percent higher than last year. Orders from North America were higher by 16 percent, with the effects of currency included, while those from China grew 18 percent, and emerging markets 15 percent.
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