Nike profits up 20% in last quarter

Nike, the world’s leading maker of sporting goods, reported a 20% year on year rise in net profit for the three months ending in November.

Nike, the world's leading maker of sporting goods, reported a 20% year-on-year rise in net profit for the three months ending in NovemberProfitable income for the period came to £530 million.

Future orders for deliveries from December to April 2016 – which is a key measure for Nike – also beat expectations, boosted by strong demand from China, Japan and North America.

Sales revenue was up to £5.31 billion.

The firm said by the end of November its future worldwide orders for footwear and clothing were up 20%, excluding currency changes.

Greater China made up 34% of that growth, while Japan made up 32% and North America 14%.

“Our powerful global portfolio of businesses, combined with strong financial discipline, continue to drive significant shareholder value,” said chief executive Mark Parker.

“We see tremendous opportunity ahead as we enter an Olympic and European Championships year with a full pipeline of inspiring innovation for athletes everywhere.”

Earlier this year, Nike signed a lifetime deal with American basketball star LeBron James. Mr James has been with Nike since 2003 when he signed a £59.7 million contract with the firm. The sports star’s latest deal is believed to be the first lifetime contract ever signed by Nike.

Nike, Inc. is an American multinational corporation that is engaged in the design, development, manufacturing and worldwide marketing and sales of footwear, apparel, equipment, accessories and services. The company is headquartered near Beaverton, Oregon, in the Portland metropolitan area.

It is one of the world’s largest suppliers of athletic shoes and apparel and a major manufacturer of sports equipment,  In 2014 the brand alone was valued at £13 billion, making it the most valuable brand among sports businesses.

The company was founded on January 25, 1964, as Blue Ribbon Sports, by Bill Bowerman and Phil Knight, and officially became Nike, Inc. on May 30, 1971. The company takes its name from Nike, the Greek goddess of victory. Nike markets its products under its own brand, as well as Nike Golf, Nike Pro, Nike+, Air Jordan, Nike Blazers, Air Force 1, Nike Dunk, Air Max, Foamposite, Nike Skateboarding, and subsidiaries including Brand Jordan, Hurley International and Converse.

Nike also owned Bauer Hockey (later renamed Nike Bauer) between 1995 and 2008, and previously owned Cole Haan and Umbro. In addition to manufacturing sportswear and equipment, the company operates retail stores under the Niketown name. Nike sponsors many high profile athletes and sports teams around the world, with the highly recognized trademarks of “Just Do It” and the Swoosh logo.

February 13, 2016  Tags: , , , , ,   Posted in: Business Growth, Business Profits, Business Sales, Business Win, Growing Profits, Growing Sales, Uncategorized, Winning Business

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