Nike profit up by 12%

Revenue grew only 4% in the U.S., 19% in the European region, 39% in the Asia Pacific region and 30% in the Americas region.

Nike posted better than expected net
profit increase of 12% to $490.5 million or $0.98 per share for the
second quarter ended May 31 from $437.9 million or $0.86 per share a
year earlier. Nike Inc. said that fourth quarter revenue rose 16% to
$5.1 billion from $4.4 billion a year earlier on robust overseas
growth. Growth in the core U.S market slackened due to weaker demand
and the recession in the economy.
The world''s largest athletic
footwear and apparel maker said changes in currency exchange rates
increased revenue by 7 percentage points for the quarter.