International sales boost Q3 Nike results
Nike has reported higher revenues for its third quarter ended February 29. Revenues grew 16% to $4.5 billion compared with $3.9 billion for the same period last year, while net income grew 32% to $463.8 million compared with $350.8 million.
US revenues rose 5% to $1.6 billion versus $1.5 billion for the third quarter of 2007. US athletic footwear revenues increased 5% to $1.1 billion; apparel revenues increased 10% to $407.8 million; and equipment revenues fell 12% to $68.7 million. Third quarter revenues for the European region grew 23% to $1.4 billion from $1.1 billion. Footwear revenues were up 25% to $784.8 million, apparel revenues increased 21% to $499.5 million and equipment revenues rose 23% to $100 million.
Third quarter revenues in the Asia Pacific region grew 27% to $748.3 million compared with $589.9 million a year ago. Footwear revenues were up 29% to $411.3 million, apparel revenues increased 25% to $272.6 million and equipment revenues grew 21% to $64.4 million. Revenues in the Americas region increased 20% to $254.4 million from $212.5 million. Footwear revenues were up 16% to $177.9 million, apparel revenues increased 30% to $55 million and equipment revenues grew 24% to $21.5 million.
Other business revenues, which include Converse, Nike Golf, Cole Haan, Nike Bauer Hockey, Hurley International and Exeter Brands Group LLC, grew 15% to $600.9 million from $522.7 million last year in the same period.
