NIKE APPAREL SALES UP 72.5% IN 3RD QUARTER
NEW YORK — Continuing its explosive momentum, Nike Inc.’s apparel sales vaulted 72.5 percent in the third quarter ended February 29, to $346.3 million from $200.8 million.
Overall, net earnings for Nike, based in Beaverton, Ore., rose 19.2 percent to $113.7 million, or 78 cents a share, from $95.3 million, or 65 cents, a year ago. Sales climbed 33 percent to $1.49 billion from $1.12 billion.
Apparel sales in the U.S. catapulted 85 percent to $218.5 million, the first time apparel passed the $200 million plateau in a quarter. International apparel sales jumped 55 percent to $127.8 million.
Athletic footwear sales gained 11 percent to $668.5 million in the U.S. and 41 percent to $371 million internationally.
In the nine months, earnings rose 38.5 percent to $396.7 million, or $2.71 a share, from $286.3 million, or $1.94, a year ago. Sales gained 36 percent to $4.55 billion from $3.3 billion. Apparel sales in the nine months grew 68.3 percent to $1.03 billion from $611.7 million.
Apparel sales rose 92 percent to $596.8 million in the U.S. and rose 44 percent to $432.5 million internationally. Athletic footwear sales grew 17 percent to $2 billion in the U.S. and moved up 34 percent to 1.13 billion internationally.