NIKE U.S. APPAREL SALES UP 24.6% IN FIRST QUARTER
BEAVERTON, Ore. — With growth in categories such as golf, running, outdoor and soccer, Nike Inc.’s first-quarter U.S. apparel sales gained 24.6 percent to $425.2 million from $340.7 million.
Philip H. Knight, chairman, said in a statement that during the quarter apparel accounted for 29 percent of U.S. revenues, compared with 19 percent two years ago.
Overall, Nike’s earnings for the three months ended Aug. 31 were ahead 11.9 percent to $253.1 million, or 85 cents a share, from $226.1 million, or 76 cents, last year. Total revenues rose 21.2 percent to $2.76 billion from $2.28 billion. International apparel revenues surged 66.8 percent to $366.8 million from $219.9 million a year earlier.
“Our long-term growth will be driven in large part by expanding the Nike brand in markets outside the U.S.,” Knight said. “First-quarter revenues in our markets outside the U.S. topped $1 billion for the first time, a clear indication that this key component of our growth is delivering on its long-term promise.”
In footwear, U.S. revenues were up 5.4 percent to $1.05 billion, and international revenues rose 40 percent to $769.6 million. International revenues jumped 47.9 percent to $1.13 billion from $768.4 million.