Nike – Strong Sales Performances

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nike brand logo iconNike 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.

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