Olympic Games boosts revenues at Nike
28/09/2016
Sales of the Nike Brand rose 10% to $8.5 billion, while revenues for Converse were up 4% to $574 million.
Nike posted good sales growth across all regions, with a 6% increase in sales in North America the stand-out result. There were also double-digit increases in China, Japan and many European markets.
By category, running performed especially strongly, with double-digit growth giving Nike its strongest ever sales in that part of the business. The Olympic Games in Rio de Janeiro (August 5-21), at which Nike products and athletes featured highly, likely contributed to this increase in sales.
Mark Parker, Nike CEO, said the company’s growth was “fuelled by an incredible summer of sport”. He added that it is a “great time to be in the business of sports”.
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