Nike Posts Stronger Sales, Profits
Nike says revenues climbed 15% to $5.8 billion in its fiscal third quarter. Net income advanced 7% to $560 million, compared with $523 million in the same period last year.
“The environment remains volatile, but I’m optimistic about the future,” Mark Parker, president and CEO, says in its release. “We’re starting a great season of major sports events and we have a pipeline full of innovation to fuel growth over the long term." The company says it saw growth in its Converse, Hurley, NIKE Golf and Umbro divisions, while sales at Cole Haan were flat.