By  on December 20, 2011

Nike Inc. exceeded analysts’ expectations for its second-quarter profits as the company combated higher costs and weaker margins with a 20 percent increase in its footwear and apparel businesses.

For the three months ended Nov. 30, the Beaverton, Ore.-based sports gear giant boosted its net income 2.6 percent to $469 million, or $1 a diluted share, 6 cents better than the 94 cents expected, on average, by analysts. Year-ago profits came to $457 million, or 94 cents.

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