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Strong sales reported by Nike

Sep 30, 2016 United States
Strong sales reported by Nike
The Oregon-based sportswear giant reported double-digit currency-neutral revenue growth internationally in the first quarter and a 6% revenue growth in North America
Revenues for Nike, Inc. increase by 8% totaling 9.1 billion US dollars (up by 10% on a currency-neutral basis).

Revenues for the the Nike brand reached 8.5 billion US dollars, up by 10% on a currency-neutral basis driven by double-digit growth in Greater China, Western Europe, Emerging Markets, Central & Eastern Europe and Japan, including strong growth in Sportswear, Running and the Jordan Brand.

Revenues for the Converse segment totaled 574 million US dollars, up by 4% on a currency-neutral basis, mainly driven by growth in North America which was slightly offset by declines in Europe and Asia Pacific.

Net income increased by 6% and totaled 1.2 billion US dollars as revenue growth and a lower effective tax rate more than offset lower gross margin and higher demand creation expense, while diluted earnings per share increased by 9% from the prior year to 0.73 US dollars reflecting nearly a 3% decline in the weighted average diluted common shares outstanding.

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