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.