Nike Q3 Revenues Jump 15%, Converse YTD 17%

Nike, Inc. (NYSE:NKE), released its Q3 2012 financial results fro the three months ended February 29, 2012, in which revenues climbed 15% to $5.8 billion, resulting in diluted earnings per share of $1.20 – up 11%. Future orders are also up 15%, however, inventories jumped 32% for the brand.

The release and earnings call were fairly mum on the action sports arm of Nike’s business, with the exception of lumping Converse and Hurley in with Umbro and Nike Golf as “Other Businesses” and claiming that this group’s revenue rose 12% to $753M.

Converse was heralded as one of Nike’s main engines for global growth, with revenues up 17% for the company’s fiscal year to date with especially strong performance in the UK and China.

Read Full Article from Transworld Business

- Posted: 2012-03-23 10:54:41

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