Nike Inc. today reported surprisingly strong second-quarter results. Q2 revenues climbed 10% year over year to $10.3 billion, outpacing analysts’ expectations of $10.1 billion. Thus, on a currency-neutral basis, revenues were up 13%. Profits also advanced 32% to $1.1 billion, or 70 cents per share.
Part of the growth is down to Nike’s digital partnerships including China’s Tmall and WeChat services as well as the TraceMe startup which has a built-in sports-prediction service.
Divisional revenues for the Nike brand were up 12% on a currency-neutral basis to $9.8 billion, driven by growth across wholesale and Nike Direct with key categories including Sportswear, the Jordan Brand and Running. Footwear revenues improved 12% to $6.2 billion with apparel sales up 8% to $3.3 billion. Revenues for Converse gained 15% on a currency-neutral basis to $480 million, that’s double-digit growth in Asia and Europe.
The best shoe got cheaper
Yep, these are the ones that you have procrastinated about buying for that important race next year (I have too)
There is a whole swathe of deals starting now and going through to early December. They will all be linked to from this link HERE or by clicking the black and red image, below