Whilst the UK's shoe retailers may be feeling the consumer pinch, Nike, the sporting goods giant on Wednesday reported growth of 14 per cent to $4.3 billion, compared to $3.8 billion for the same period last year. The weak dollar increased revenue growth by 4 percentage points for the quarter. Mark Parker, Nike's Chief Executive Officer, said, “Our second quarter was another great one, and it illustrates the ability of our portfolio to deliver consistent, profitable growth." The Company reported worldwide futures orders for athletic footwear and apparel, scheduled for delivery from December 2007 through April 2008, totaling $6.5 billion, 13 percent higher than such orders reported for the same period last year. Changes in currency exchange rates increased reported orders growth by 3 percentage points.* By region, the U.S. increased 1 percent; Europe (which includes the Middle East and Africa) increased 19 percent; Asia Pacific grew 24 percent; and the Americas increased 21 percent.

Second quarter revenues for the European region grew 18 percent to $1.2 billion from $1.0 billion for the same period last year. Changes in currency exchange rates increased revenue growth by 10 percentage points. Footwear revenues were up 19 percent to $646.7 million. Revenues in the Americas region increased 19 percent to $313.6 million from $262.5 million in the second quarter of fiscal 2007. Currency exchange rates contributed 5 percentage points to this growth rate. Footwear revenues were up 16 percent to $214.3 million, apparel revenues increased 31 percent to $73.2 million and equipment revenues grew 20 percent to $26.1 million.

Image: Nike logo

 

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