Spurred by Europe and Asia, Nike Inc. said Wednesday that second-quarter earnings increased 10.4 percent.
Net income in the period ended Nov. 30 increased to $359.4 million, or 71 cents a diluted share, from $325.6 million, or 64 cents a diluted share, during the year-ago period.
Total sales jumped 13.5 percent to $4.3 billion from $3.8 billion during the same period last year.
European revenues increased 18 percent overall to $1.2 billion compared with $1 billion a year ago. A stronger euro helped revenue growth increase by 10 percentage points, the company said. Apparel revenues in Europe were up 15 percent and footwear increased 19 percent.
In the Asia-Pacific region, sales grew 17 percent, to $674.6 million versus $578.2 million last year. Sales in the Americas increased 19 percent to $313.6 million from $262.5 million.
Nike's U.S. business increased 7 percent during the quarter, to $1.5 billion from $1.4 billion last year. Athletic footwear constituted the largest share of those sales, with a boost of 12 percent to $983.3 million in revenues. Apparel revenues declined 3 percent to $461.4 million.
"Our second quarter was another great one, and it illustrates the ability of our portfolio to deliver consistent, profitable growth," Mark Parker, president and chief executive officer, said in a statement.
The company continues to focus its strategy on the parts of its business with the greatest growth opportunities, Parker said. In mid-November, Nike announced that it was selling the Starter brand to Iconix Brand Group for $60 million in cash. The deal was completed on Monday. The company is also looking to sell its Bauer Hockey business.
"Our focus on prime growth opportunities extends throughout our portfolio of brands. We are confident that our divestiture decisions this quarter are the right ones for Bauer Hockey, for Starter and for Nike," Parker said.
Nike also acquired a new business during the quarter, purchasing Umbro plc for $570 million, or 285 million pounds.
“Azzedine has been one of the biggest influences in my life. He has always been such a strong, loving, fatherly figure to me. I call him Papa. His designs are indescribably unique, they are pieces of art. He knew how to make the female form look its loveliest. I have so many memories of him; my favorite might be during my first show with him in Paris. He liked me and he wanted to help me get more work. He called all his friends at Kenzo and Comme des Garcons, and asked them to book me. They said, ‘But she can’t walk!’ And he said, ‘but she has such a great ass!' His friendship and support has been the great privilege of my career. I can't imagine life without him. Repose en paix mon Papa.” - @stephanieseymour tells @wwd. #wwdfashion (📷: @steveeichner) #alaia #azzedinealaia
Azzedine Alaïa, flanked by two of his closest friends, models Stephanie Seymour and Naomi Campbell.
He designed Seymour’s dress for her 1995 wedding to Peter Brant, and treated Campbell (who famously called him Papa), like a daughter. For more on the legendary designer, tap the link in bio. #wwdfashion #alaia #azzedinealaia
Azzedine Alaïa's “I-did-it-my-way” ethos stood out starkly at a time when brands are experimenting with consumer-facing fashion shows, coed formats and trans-seasonal collections – anything to perk up lackluster sales of ready-to-wear in an age of Insta-everything. “It’s not creation anymore. This becomes a purely industrial approach,” the late designer told WWD in an interview last year. “But anyway, the rhythm of collections is so stupid. It’s unsustainable. There are too many collections.” Read more about the iconic designer’s life and work on wwd.com, link in bio. #wwdfashion #azzedinealaia (📷: @WWD Archive, 1986) #alaia
Sneaker reselling app @goat’s latest exhibit, "The Greatest: New York," tells the story of New York's sneaker culture. To celebrate the exhibit, an intimate crowd gathered on Thursday night at the pop-up gallery space, located at Platform in Culver City, to hear guest speaker and illustrator @esymai talk about her own rise in streetwear and women in the business. "For me I'm just someone who is creative. I like to create things," said Chang. #wwdfashion
Azzedine Alaïa, one of the most iconic couturiers of the modern era whose body-con designs defined Eighties fashion, has died in Paris. The diminutive Tunisian-born designer, known for his structured knitted dresses with fitted waists and impeccably cut, figure-hugging second skin silhouettes was deeply admired by his peers, and counted supermodel Naomi Campbell - his adoptive daughter - among his inner circle, one of a gang of glamazons including Farida Khelfa, Carla Bruni and Stephanie Seymour who became ambassadors of his style. (📷: Alexandre Guirkinger) #wwdblast