Nike earnings jump in last quarter

23-03-2007

Nike earnings jump in last quarter
Profits at Nike rose by eight per cent in the three months to the end of February, the sports clothing giant said today.

Net income was $350.8 million (£179 million) in the last quarter, compared to $325.8 million (£166 million) in September to November 2006.

Overall revenue meanwhile grew by nine per cent to $3.9 billion (£2 billion) during the same period, with worldwide future orders up to $6 billion (£3.1 billion), a rise of nine per cent.

"We had a strong third quarter," said Nike's president and chief executive officer Mark Parker.

"Our mix of compelling product and premium consumer experiences drove a meaningful acceleration of futures orders.

"We continue to grow because we're innovative, disciplined, and connected to our consumers," Mr Parker added.

Growth of 15 per cent in European revenue represented the largest increase in income across Nike's geographical business regions.


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