Nike pledges to build success with ‘greater consistency and speed’
Sportswear giant Nike is to double down on drivers of success after a first quarter in which it beat earnings expectations but missed anticipated sales.
Nike posted net income of $1.45bn (£1.18bn) in the period to August 31, down 1% year on year. Sales, up 2% to $12.94bn (£10.57bn) were just below analysts’ expectations.
Revenues for the Nike brand of $12.4bn (£10.1bn) were up 3%, led by growth in regions such as Europe, the Middle East and Africa and Greater China, and “partially offset by a decline in North America”.
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