Nike posts strong quarterly results | Business| Economy and finance news from a German perspective | DW | 21.12.2016
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Nike posts strong quarterly results

Global sports giant Nike has booked better-than-expected results for its September-November quarter. The Oregon-based company said growth was driven by revenue increases in Asia and Europe.

In comparison with a year earlier, revenues for the sports firm were up 6 percent overall, totaling $8.2 billion (7.9 billion euros) in the September-to-November period.

In the same quarter, Nike's bottom-line income soared by 7 percent to $842 million, the company reported.

Nike's solid quarterly earnings came on the back of increased sales in some of the firm's key markets, predominantly Asia and Europe.

North America in focus

The company registered a 12-percent rise in revenues in China and a 16-percent increase in Japan.

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Executives touted running shoe launches, a new flagship store in New York and a Michael Jordan-oriented shop in Paris.

Analysts had expressed worries about Nike's profit outlook in North America due to excessive supplies of athletics goods apparent in deep discounts in US stores this holiday season.

Nike Chief Financial Officer Andy Campion said the sports giant was in the process of addressing supply issues, insisting the company would return to profit-margin growth in North America over the next six months.

hg/jd (AFP, dpa)


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