Nike revenues rise in Q3
23/03/2007
Nike, Inc. has reported 9% higher revenue for the third quarter ended February 28, rising to $3.9 billion from $3.6 billion in the same period a year earlier. Net income also improved, increasing 8% to $350.8 million compared with $325.8 million.
Footwear revenues increased 6% to $152.8 million and equipment revenues grew 16% to $17.4 million for the quarter, however, apparel revenues declined 5% to $42.3 million. Other business revenue, comprised of results from Cole Haan Holdings Incorporated, Converse Inc., Exeter Brands Group LLC, Hurley International LLC, Nike Bauer Hockey Inc. and Nike Golf, grew 15% to $522.7 million from $454.5 million in the prior year.
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