Nike Q1 revenues jump 10 percent

Nike, the American sportswear company, said on Tuesday its Q1 revenue for 2018 increased 10 percent, while profit increased by 15 percent from the same period last year.

The company’s sales in Q1 2018 were 9.9 billion US dollars, up from 9 billion US dollars a year earlier. Net profit rose to 1.1 billion US dollars, while diluted earnings per share increased 18 percent from the prior year to 0.67 dollar. The profit margin of the company rose to 11 percent compared to 10.5 percent a year ago.

Nike Inc was founded in 1963 by Phil Knight and Bill Bowerman and is based in Beaverton, Oregon, United States. Nike is known for its athletic footwear, sportswear, equipment and sports-related accessories for a wide variety of sports and fitness activities. The group's subsidiary brands include Converse, which designs and retails athletic lifestyle footwear, apparel and accessories; and Hurley, which designs and markets surf and youth lifestyle footwear, apparel and accessories.

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Picture:Nike news centre