Nike steps up a gear
Nike has reported record results for the second quarter ended November 30, boosted by a strong performance in its footwear segment. Overall revenue grew a significant 14% to reach $4.3 billion, compared with $3.8 billion in the same period last year, while net income improved 10% to $359.4 million, up from $325.6 million.
US revenues for the quarter increased 7% to $1.5 billion versus $1.4 billion boosted by 12% growth in athletic footwear revenues to $983.3 million, while apparel sales actually dipped. Revenues for the European region grew 18% to $1.2 billion from $1 billion for the same period last year, boosted again by strong footwear revenues, which increased 19% to $646.7 million. Asia Pacific revenues grew 17% to $674.6 million compared with $578.2 million a year ago, with footwear posting a 20% improvement at $334.1 million, while revenues in the Americas region increased 19% to $313.6 million from $262.5 million, where footwear revenues increased 16% to $214.3 million.
Commenting on the results president and chief executive Mark Parker said: “Our second quarter was another great one, and it illustrates the ability of our portfolio to deliver consistent, profitable growth. Our strategy for continued growth is very clear – commit totally to the consumer, deliver innovative and relevant product, and focus our execution and discipline on those parts of the business that offer the greatest growth opportunity.”
