Nike’s Q3 earnings climb 16%

United States
Published:  20 March, 2015

Nike Inc. reported earnings rose 16.0% in its third quarter ended February 28, to $791 million, or 89 cents a share, ahead of Wall Street’s consensus target. Sales rose 7.0% to $7.46 billion. Sales on a currency-neutral basis grew 11% for the Nike brand and 33% for Converse.

The North America saw the smallest gain, although still up a solid 6%. Among other regions, Western Europe saw the strongest gain, up 21%; followed by Greater China, 17%; Emerging Markets, 12%; Japan, 8%; and Central & Eastern Europe, 7%.

Nike noted that earnings per share was 19% due to higher revenues as a result of continued strong demand for its brands and gross margin expansion, partially offset by higher SG&A investments and a higher effective tax rate.

“Our strong third quarter results show that our growth strategies are working, even under challenging macroeconomic conditions,” said Mark Parker, President and CEO, Nike. “Nike has the ability to deliver consistent shareholder value due to the strength of our brand, our relentless commitment to innovation and our powerful portfolio that allows us to invest in the opportunities with the highest potential for growth as well as manage risk.”

Source: Newswire

comments powered by Disqus