Revenues for the Nike brand alone were up by 1% year-on-year to US$12.9 billion and flat on a currency neutral basis, with currency-neutral growth in APLA and Greater China offset by declines in North America and EMEA.

Meanwhile, Converse had a decline of 11% to US$519 million with a 13% drop on a currency neutral basis, driven by decreases in North America and Europe and offset by growth in Asia.

Overall, Nike reported a decline in North America of 4% to US$5.63 billion, while EMEA was up by 2% to US$3.57 billion, Greater China grew by 4% to US$1.86 billion and APLA was up by 13% to US$1.8 billion.

Gross profit was up 5% year-on-year in the quarter to US$5.97 billion, with a gross margin of 44.6%. Net income was up 19% to US$1.58 billion.

Nike CFO Matthew Friend said: “Nike’s second-quarter financial performance was a turning point in driving more profitable growth. As we look ahead to a softer second-half revenue outlook, we remain focused on strong gross margin execution and disciplined cost management.”