Nike Q2 earnings rise 13 percent driven by double-digit revenue growth

American retailer of athletic footwear, sportswear, equipment and accessories Nike said on Thursday its Q2 revenue for 2018 increased by 10 percent or 14 percent on currency neutral. The company said, this double-digit revenue growth was driven by strategic execution of the Consumer Direct Offense across all dimensions of the portfolio globally. Net income rose by 10 percent from the same period last year, while diluted earnings per share for the quarter were 52 cents, an increase of 13 percent.

The company’s sales in Q2 2018 were 9.4 billion US dollars, up from 8.5 billion US dollars a year earlier. Net profit rose to 847 million US dollars. The profit margin of the company rose to 9 percent compared to 9 percent a year ago.

Nike Inc was founded in 1963 by Phil Knight, 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.

Offering men's, women's and kids' athletic footwear, clothing and accessories, the New York-listed company has about 0 employees worldwide.

For more recent news on the business, collections and executive changes of Nike Inc, click here.

Picture:Nike News centre

 

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