(San Francisco) U.S. athletic apparel and footwear giant Nike relied on strong demand for its products in North America to beat expectations in the third quarter of its staggered fiscal year.
Posted at 5:15 p.m.
According to results published on Monday, the comma brand achieved, from the beginning of December to the end of February, a turnover of 10.9 billion dollars, more than the 10.6 billion anticipated by the market.
Its net profit was $1.4 billion. Reported per share and excluding exceptional items, earnings were 87 cents, significantly better than the expected 71 cents.
These good figures are largely due to the increase in sales in the North American market, which increased by 9% compared to the previous year.
Revenues also grew in the Europe, Middle East and Africa (+13%) and Asia Pacific and Latin America (+19%) regions, but fell in the area comprising Mainland China, Hong Kong, Macau and Taiwan (-8%).
The difficulties encountered in this region are likely to be accentuated for the current quarter due to confinements in several major Chinese cities due to an outbreak of COVID-19 contamination cases.
Overall, the Beaverton, Oregon group’s online sales have seen strong growth, climbing 22%. Revenue from sales at Nike-owned stores increased 14%.
On Wall Street, Nike’s stock rose about 6% in electronic trading after the close of trading.