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.
“These collections continue to build on that vision, empowering differently abled adults to express themselves through fashion,” said @tommyhilfiger of his line of adaptive apparel, which launches today. The line consists of 37 men’s and 34 women’s styles based upon the pieces from the spring Tommy Hilfiger sportswear collection. #wwdnews
“Stranger Things” is getting a new cast member for season 2. Meet @sadiesink_, the 15-year-old who will be joining the Netflix series for its new season. You may recognize her from “The Glass Castle” with Brie Larson and Woody Harrelson, but the Texas native’s next role goes in an entirely different direction. She describes her character, Max, as “a rough and tumble skater girl [who] becomes friends with the boys at school.” The second season debuts on October 27. (📷: @jgreenery) #wwdeye
Amid the Harvey Weinstein controversy, there’s another sector that’s being put under the spotlight for sexual abuse: the modeling industry. While rumors about abuse and sexual harassment of female and male models — and the photographers, agents and others who perpetrated it — have circulated within the fashion world for years, model @cameronrussell started posting stories from models on Instagram last week about abusive situations they’ve encountered — from sexual harassment and molestation to attempted rape. Over 75 have weighed in so far. Read more on WWD.com. Link in bio. #wwdnews
To celebrate its 16th anniversary, @dylanscandybar tapped designers and celebrities to create mosaics out of candy. The mosaics will be auctioned off to support the philanthropic cause of each participant’s choice. Pictured here is the mural created by @aliceandolivia's Stacey Bendet. For a first look at some of the other artwork being unveiled tonight, go to WWD.com. #wwdeye
The annual Veuve Clicquot Polo Classic in Pacific Palisades this weekend drew Kate Hudson, Tracee Ellis Ross, Laura Dern and more. See pictures of the star-studded event on WWD.com. (📷: @chelsealaurenla) #wwdeye
In his new book “Hollywood Royale,” Andy Warhol’s Protégé Matthew Rolston celebrates the Eighties revival of Hollywood glamour. Featuring more than 100 portraits taken by Rolston from 1977 to 1993, the book contains photos of icons like Michael Jackson, Cyndi Lauper, and @drewbarrymore, pictured here in 1991. “Hollywood Royale,” out today, will be accompanied by an exhibition opening at Los Angeles’ Fahey/Klein Gallery on March 1. #wwdeye
"Nowadays when life is not so happy with everything going on in the world, I think people come to me for a little bit of whimsy and color and fun." - Designer Rebecca De Ravenel on her cult-favorite jewelry line. (📸 : @vsteves) #wwd40
“Everyone is talking about how the retail industry is struggling, but I think it’s an incredible time because brands who are doing something different and innovative are setting themselves up for the future,” said @adamgoldston, who founded the luxury athletic brand @apl with his brother @ryangoldsten. The Goldston’s are part of WWD’s 40 under 40: a group of industry notables. See the rest of the list on WWD.com. (📷: @vsteves) #wwd40
@eyeswoon blogger Athena Calderone debuted her first-ever cookbook, “Cook Beautiful,” which is heavily centered on the presentation and visual expression of food. Pictured here are her miso glazed carrots from the book. Get the recipe on WWD.com. (📷: @johnny_miller_) #wwdeye