NEW YORK — Nike Inc. delivered a blockbuster fourth quarter, with profits rising 15 percent, although apparel was a notable soft spot in the U.S. and Europe.
Overall revenues rose 7 percent to $3.7 billion in the quarter ended May 31, 2005, but apparel revenues declined 7 percent in the U.S to $335.9 million, and slipped 4 percent to $366.1 million in that is constituted by Europe, the Middle East and Africa region.
Propelled by sales of Air Jordan and Shox athletic shoes, profits in the quafter grew to $349.5 million, or $1.30 a share, from $305 million, or $1.13, and exceeded Wall Street analysts’ expectations of $1.27. Results were aided by higher gross margins and strong sales in Asia.
For the year, profits surged 28.1 percent to $1.21 billion, or $4.48 a share, from $945.6 million, or $3.51. Revenues surged 12 percent to $13.74 billion, from $12.25 billion.
— Melanie Kletter
For more, see tomorrow’s WWD.