Nike records fall in income
Nike has reported a 17% rise in revenues for its first quarter ended August 31. Revenues for the period totalled $5.4 billion, compared with $4.7 billion for the same period last year. However, first quarter net income fell 10% to $510.5 million compared with $569.7 million in the prior-year period.
US revenues rose 8% to $1.8 billion compared with $1.6 billion for same period last year, with athletic footwear revenues up 9% to $1.2 billion, apparel revenues up 9% to $464.4 million and equipment revenues flat at $97.7 million. Revenues in the Americas region increased 26% to $355.7 million, up from $282 million during the same period last year. Footwear revenues were up 24% to $245.8 million, apparel revenues rose 36% to $79.4 million and equipment revenues grew 21% to $30.5 million.
First quarter revenues for Europe region grew 20% to $1.8 billion from $1.5 billion for the same period last year. Footwear revenues rose 24% to $982.4 million, apparel revenues grew 15% to $649.7 million and equipment revenues increased 20% to $146.6 million.
Revenues in the Asia Pacific region grew 36% to $860.6 million compared with $633.7 million a year ago. Footwear revenues were up 37% to $454 million, apparel revenues increased 38% to $332.7 million and equipment revenues grew 21% to $73.9 million.
