Nike reported strong third-quarter results, showing a return to growth in retail sales driven by a 7% increase in revenue to 3.4 billion euros for the quarter ending February 28. This growth was fueled by robust performances in emerging markets and China, where sales rose by 10% to 334 million euros. The Chinese market saw even stronger gains in athletic footwear, up 12%, and apparel, up 8%. Emerging markets also performed exceptionally well, with sales jumping 43% to 372 million euros—led by a 53% rise in shoe sales and a 32% increase in apparel.
In Europe, Nike’s sales grew by 4% to 669 million euros, with shoes increasing by 8% to 421 million euros. However, apparel and sports equipment sales declined slightly by 1% and 4%, respectively. Operating income remained stable at 145 million euros.
Nike’s overall order backlog increased by 9%, with European orders rising 4% as well. The company also saw strong performance across its other brands, including Cole Haan, Converse, Hurley International, Nike Golf, and Umbro, which collectively generated 479 million euros in revenue, up 13% year-over-year.
The company’s net earnings for the quarter reached $496 million, or $1.01 per share, compared to $244 million, or 50 cents per share, in the same period last year. While this beat analyst expectations of $89 per share, the revenue of $4.7 billion fell short of the projected $5.59 billion. Despite this, Nike remains confident in its long-term growth strategy, particularly in key regions like Asia and emerging economies.
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