Nike saw a resurgence in retail growth during the third quarter, driven by a 7% sales increase that brought revenue to 3.4 billion euros as of February 28. This growth was fueled in part by strong performances in emerging markets and China. The company reported improved financial results, with profits rising from $244 million (50 cents per share) to $496 million (1.01 dollars per share). Sales for the quarter reached $4.7 billion, up from $4.4 billion in the same period last year.
Analysts had expected earnings of 89 cents per share and revenue of $5.59 billion, but Nike exceeded those expectations. In Europe, sales grew by 4% to 669 million euros, largely due to an 8% rise in shoe sales to 421 million euros. However, apparel and sports equipment sales declined slightly by 1% and 4%, respectively. Operating profit remained stable at 145 million euros.
China and emerging markets were standout performers. Sales in China increased by 10% to 334 million euros, with sneakers up 12% and apparel up 8%. Emerging markets saw a remarkable 43% sales increase, reaching 372 million euros, with shoes up 53% and clothing up 32%.
Additionally, overall order levels rose by 9%, with European orders increasing by 4%. Other brands under the Nike umbrella, including Cole Haan, Converse, Hurley International, Nike Golf, and Umbro, saw their revenue grow by 13% to 479 million euros. This performance highlights Nike's continued strength across multiple regions and product lines, reinforcing its position as a leader in the global athletic apparel market.
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