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    Nike exceeds expectations with solid growth

    Nike matches expectations with good growth

    American sports brand Nike had a strong second quarter, in which its sales and profits rose sharply. The brand has improved in all regions, with China as its main driver of growth.

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    Overall growth

    Turnover for the company as a whole increased by 10.1?% in the second quarter of the split financial year, to 10.3?billion dollars (9?billion euros). Analysts had expected a turnover of 10.09?billion dollars, beurs.nl reports. The sports brand grew in all regions, but Greater China (in which Nike also includes Taiwan) took the lead with a 19.6?% increase in sales. The eponymous brand saw its revenues increase by 10?% to 9.8?billion dollars. Converse, which has been losing out a bit of late, had a strong quarter and grew by 12.9?%.

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    The sports group’s net profit rose by no less than 31.6?% to 1.1?billion dollars (1?billion euros). This is considerably higher than the 924?million dollars suggested by analysts. Nike has attributed the strong profit increase to higher selling prices, among other things.

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