Nike Inc. continues to beat the economy, reporting a 9 percent gain in second-quarter earnings after the market closed Wednesday.
For the three months ended Nov. 30, Nike’s net income climbed to $391 million, or 80 cents a diluted share, from $359.4 million, or 71 cents, beating analysts’ estimates of 78 cents.
Strong sales overseas helped the Beaverton, Ore.-based active giant overcome weak domestic sales, driving total revenue up 5.8 percent to $4.59 billion from $4.34 billion.
“Our second-quarter results demonstrate the power of the Nike brand and the diversity of the Nike Inc. portfolio,” said Mark Parker, Nike president and chief executive officer.
Going forward, Nike reported futures orders, scheduled for delivery from December 2008 through April 2009, slid 1 percent to $6.7 billion, but excluding changes in foreign currency exchange rates, future orders were up 6 percent.
Nike’s performance varied by region:
• U.S. sales slid 1 percent to $1.51 billion, dragged down by a 17 percent decline in equipment revenues, a 3 percent drop in apparel and 1 percent decline in footwear. Futures for the U.S. are up 6 percent.
• European sales grew 6 percent to $1.3 billion, as apparel sales increased 7 percent, footwear grew 6 percent, equipment rose 1 percent, and currency exchange rate changes boosted revenue by 2 percentage points. Futures, however, are down 13 percent.
• Asia-Pacific sales climbed 22 percent to $821.4 million, with apparel revenues up 23 percent, equipment up 23 percent, footwear up 20 percent, and currency exchange rate changes helping revenues by 5 percentage points. Futures increased 11 percent.
• Americas revenues increased 21 percent to $384.6 million, with footwear up 23 percent, apparel 20 percent and equipment 10 percent, and dragged down 2 percentage points by currency exchange rate changes. Futures are up 6 percent.
London’s newly opened @designmuseum will look back on the life and work of Azzedine Alaïa in a show that the designer helped to curate before he died of heart failure last month. The retrospective, which Alaïa had worked on with Mark Wilson, chief curator of the @groningermuseum, will look at the impact of his work worldwide. The show, “Azzedine Alaïa: The Couturier,” will run from May 10 to October 7. Read more about the exhibit on WWD.com #wwdnews #wwdfashion (📷: @zefashioninsider)
@Pharrell and his wife Helen Lasichanh were among the stars that came out to celebrate @rimowa’s first pop-up concept shop. The space, which is located on Rodeo Drive in Beverly Hills, draws inspiration from airport luggage carousels and lounge areas – and features the company’s luggage and accessories. If the pop-up is successful it could pave the way for addition temporary shops throughout the world. #wwdfashion (📷: Owen Kolasinski/BFA)
@carineroitfeld celebrated @crfashionbook’s first calendar last night with a dinner party at Spring Place in Manhattan. Photographed by @stevenkleinstudio, the calendar takes on a fitness theme and features @joansmalls, @gigihadid, @danielle_herrington_ – pictured here – and more. “[Carine Roitfeld] wanted me to feel sexy and she wanted me to be myself and feel it out on my own and do what I felt was right,” said Herrington, aka Miss October. #wwdeye
@saintrecords and @virgilabloh last night at @americanexpress’ “A Night With Success Makers” event. “I always bring it back to community because without that I wouldn’t have the courage,” said Knowles when asked how she has gotten where she is now. Read more highlights from their conversation on WWD.com. #wwdeye (📷: @lizdoupnik)
This Just In: Industry sources have told WWD that Anastasia Soare is rumored to be considering selling her beauty business, @anastasiabeverlyhills. According to those sources, Soare has tapped investment bank Imperial Capital to explore sale options for her eponymous beauty brand –– and with at least $340 million in net sales, this would be a big deal. Put in context of other recent transactions for makeup companies, Soare’s price tag could be in the billions if she were to sell the whole thing. #wwdnews #wwdbeauty (📷: @clint_spaulding)
@assouline’s latest book, “The Spirit of Bentley: Be Extraordinary” captures the adventurous attitudes and opulent lifestyles of @bentleymotors’ most creative owners and enthusiasts throughout the U.K. The 292-page hardcover has a section dedicated to showing its team of skilled artisans and photos of its most colorful owners, from George Bamford to designer @alicetemperley, pictured here by Aline Coquelle. #wwdeye
@google released its report on the most popular search terms this year. For fashion brands, the list was led by @gucci, the luxury brand that stunned the market last October when it pledged to stop using fur. Runner ups were @supremenewyork and @fashionnova, along with more established brands like @louisvuitton, @chanelofficial and @ysl. #wwdfashion (📷: @aitorrosasphoto)
In yet another fashion show shuffle, @elleryland is moving its show in sync with the Paris couture calendar — though the brand is still keeping one foot on the city’s ready-to-wear schedule. Their runway show in January will coincide with the launch of a new strategy: designing two main collections each year instead of four, which will then be released in four drops. “As we all know, the system needs to change. We need to show sooner to give time back to artisans and designers to do what they do best — create,” said founder Kym Ellery. #wwdnews #wwdfashion (📷: @kukukuba)
@maxmara’s classic 101801 coat was the cornerstone of its pre-fall 2018 collection. The design team expanded the traditional double-breasted, kimono-sleeved style into a trapeze coat, lean belted styles and a peacoat and presented them in monochromatic looks – like the camel one pictured here. #wwdfashion #prefall18 (📷: George Chinsee)