Sales, Profits, And Orders All Up At Nike

  • March 17, 2010
Nike Inc. says revenues for its fiscal third quarter gained 7% to $4.7 billion, or 2% excluding currency changes. And future orders around the world are up 9%, or 6% excluding those currency changes.

"We had a great quarter," Mark Parker, President/CEO says in the company's release. "Today's results reinforce our belief that when we connect with consumers in deep and meaningful ways from product concepts to how they experience our brands, we win in the marketplace and drive sustainable, profitable growth."

While the Beaverton, Ore.-based company says net income for the quarter jumped to $496 million, compared to $244 million in the same period a year ago, last year's results included a $241 million after-tax charge related to its Umbro subsidiary. Without that charge, net income would have increased 2%. In North America, total sales managed a 1% gain to $1.7 billion, despite a 1% dip in footwear revenues. Sales of its apparel revenues gained 6%.

In its other brands, including Cole Haan, Converse, Hurley International and Umbro Ltd., revenues rose 13% in the quarter to $656 million.--Sarah Mahoney



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