Natural mineral water brand Alps sign three-year partnership with BWF
21 Aug 2019 20:30
Nike, the world’s largest footwear maker, reported a 4.1 per cent rise in quarterly revenue as demand rose for its shoes and apparel in North America and China.
New footwear launches in the basketball, running and sports categories are helping Nike draw customers toward higher-priced products, while the “athleisure” trend is driving sales in the athletic apparel sector.
Sales in Greater China, a fast-growing market, rose 24 percent to $938 million, helped by overhauled stores and greater online traffic.
Revenue from North America, Nike’s largest market, rose 9.4 per cent in the quarter ended November 30th. Footwear sales in the region rose 12.3 per cent to $2.16 billion. Nike said net income jumped by 20 per cent to $785 million, or 90 cents per share. Revenue rose to $7.69 billion from $7.38 billion.
“Overseas markets have great potential for Nike,” said Paul Swinand, an analyst at Morningstar Inc. “Investors should take a read on Chinese consumers from the futures orders: there’s room to purchase new Western goods in people’s budgets. That highlights the potential for long-term middle-class growth there.”
In the most recent quarter, Nike’s China unit was the standout. Footwear sales there gained 30 per cent to $600 million, while apparel revenue climbed 15 per cent to $306 million. This strength looks set to continue, with futures orders for the segment increasing 34 per cent, excluding currency effects.
Source: irishtimes & thestar
Proofread by John Devlin
Related coverage
Sunny Lake (Beijing) Sport Development signs exclusive FLW agreement
20 Jul 2015
SCP partners with ECADInt to build football academy in China
30 Nov 2015
The TV Broadcasting Report of 2015 CSL
13 Apr 2016
Chinese reportedly eyeing biggest F1 stake in $8.5bn bid
19 Oct 2015
China 2019 - more basketball than ever!
23 May 2015
More from Yutang Sports
SportAccord 2024 - MediaAccord is ‘rare opportunity’ to meet before Paris 2024
08 Mar 2024
Birmingham is embracing a bright future supported by extraordinary sporting legacy
17 Apr 2024
WFDF is ready to fly in Chengdu for the World Games 2025
17 Apr 2024
Leading sports charity, Podium Analytics, announces Trusted Research Environment for Global Sport
11 Apr 2024
Ingmar De Vos elected as the next ASOIF President
10 Apr 2024
Yutang Sports
loading...