NIKE’s revenues increased 18 per cent to $5.7 billion, while net income grew modestly by three per cent to $469 million for the three months to November 30.
However, the world’s biggest sports brand said its gross margin fell by 2.6 per cent to 42.7 per cent because of higher production costs, adding growth at Converse more than offset lower revenues at Umbro, NIKE Golf, Cole Haan and Hurley.
“Our strong second quarter results demonstrate that the NIKE portfolio is a powerful engine for growth,” says Mark Parker, the company’s president and CEO.
“We’re able to accomplish this by staying focused on what we do best – deliver innovative products and experiences that serve athletes, inspire consumers and reward our shareholders.
“Going forward, we’ll continue to use the unique power of our portfolio to drive growth, manage risk and connect with consumers.”
