Overseas Sales Help Nike Earnings Rise
Nike Inc.'s third-quarter profit jumped 32 percent because of strong sales overseas and a weak dollar, the athletic shoe and apparel company said.
Nike said revenue for the quarter,
which ended Feb. 29, grew 16 percent to $4.54 billion, up from $3.93
billion a year earlier. Changes in currency exchange rates accounted
for 6 percentage points of revenue growth for the quarter.
Revenue grew 20 percent or more in
overseas markets, with particular strength in Asia and Europe.
Company officials said Nike has already hit its goal of more than $1
billion in annual sales in China. By comparison, U.S. revenue
increased 5 percent, with gains in shoe and apparel goods but a drop
in equipment sales.
Related news
Related news
The Fressnapf group opened a customer service center in Pécs
Fressnapf International Business Services Kft., a subsidiary of the German…
Read more >DHL arrived at the Hungaroring for the Formula 1® weekend with a doubled fleet of trucks powered by biofuel
DHL and Forma-1® are already in Mogyoród, the FORMA-1® HUNGARIAN…
Read more >McDonald’s is renewed and growing
McDonald’s is constantly opening new restaurants and modernizing its existing…
Read more >