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Another solid quarter for Nike

22/03/2017
Sportswear manufacturer Nike reported revenue of $8.4 billion in the third quarter of the 2016/17 financial year, a 5% increase on the same period of last year.

Nike’s net income from this revenue was $1.1 billion, 20% higher year-on-year.

Mark Parker, president and CEO of Nike, described it as “another solid quarter growth and profitability”. 
Revenue for the Nike brand was up 7% to $7.9 billion, driven by double-digit growth in several regions and strong performance from sportswear and the Jordan brand. Converse sales increased 3% to $498 million. 

Mr Parker said “a relentless flow of innovation” would be key to Nike’s next phase of growth. He highlighted that the company plans to increase speed throughout the business and create more direct connections with consumers. 

Related stories:

Nike to cut global workforce by 2% 16/06/2017
Nike takes first steps towards marathon goal 13/03/2017
Converse breathes new life into iconic design 09/03/2017
Nike designs sports hijab for Muslim athletes 08/03/2017
Adidas to rival Nike for sub-two hour marathon 28/02/2017
Nike and Patagonia rewarded for circular economy efforts 17/01/2017
Nike sees growth across key markets 21/12/2016

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