Revenues were also up by 19% on a currency-neutral basis and totalled US$12.4 billion for the period. Gross margin for the quarter was down to 43.3%. Net income for the third quarter of the year totalled US$1.2 billion, a drop of 11% year-on-year.
Nike Direct sales were US$5.3 billion, an increase of 17% on a reported basis and 22% on a currency-neutral basis, while Nike Brand Digital sales were up by 20% and 24% respectively.
The Nike brand brought in US$11.8 billion, an increase of 14% reported and 19% currency-neutral, with double-digit growth in the North America, EMEA and APLA regions. Greater China was notably up by 1% on a currency-neutral basis despite a challenging December, but was down by 8% on a reported basis.
Converse, meanwhile, was up by 8% reported and 12% currency-neutral, bringing in revenues of US$612 million. The brand had double-digit growth across all channels in North America, partially offset by declines in Asia.
“Nike’s strong results in the third quarter offer continued proof of the success of our Consumer Direct Acceleration strategy,” said John Donahoe, President and CEO of Nike.
