NIKE INC. REPORTS STRONG Q3 GAINS
THE MOMENTUM CONTINUES
Confirming its strong consumer demand, Nike Inc.’s sales continued to jump in fiscal 2016 second quarter that ended on Nov. 30. Revenues for the period gained 4.1 percent to $7.7 billion while net income soared 20 percent to $785 million. Nike.com revenues grew nearly 50 percent and the company plans to build a $7 billion e-commerce business by the end of 2020. North America and Western Europe continue to drive sales, followed by Greater China. Worldwide future orders as of Nov. 30 are up 11 percent.
“Our strong growth and profitability show that NIKE continues to drive real momentum through all categories by going deep with consumers by sport and serving them completely,” said Mark Parker, President and CEO, NIKE, Inc. “We see tremendous opportunity ahead as we enter an Olympic and European Championships year with a full pipeline of inspiring innovation for athletes everywhere.”