×
168
Fashion Jobs
H&M
E-Commerce Commercial Manager
Permanent · NEW DELHI
H&M
Area Facility Manager
Permanent · NEW DELHI
SAROJ JALAN
Marketing Strategist
Permanent · KOLKATA
ADD UR CO LLP
Production Manager
Permanent · Chennai
THE GLOBAL ZONE HR SERVICES
Production Manager/ Supervisor/ Incharge
Permanent · Pune
PUMA
Manager - Digital Marketing
Permanent · Bengaluru
THE BANYAN HR CONSULTS
Brand Manager For Leading Women's Wear Garments CO at Coimbatore
Permanent · Coimbatore
LEVI'S
Manager, Retail Merchandising (Ebo)
Permanent · Bengaluru
GLAN MANAGEMENT CONSULTANCY
Senior Buyer Lingerie (Knits Western Wear) - Retail Brand
Permanent · GURUGRAM
JOB INDIA
Asst. Manager E-Com Operations (Garments Retail) Gurgaon
Permanent · Faridabad
VASTRAKALA EXPORTS
Quality Manager
Permanent · CHENNAI
PEOPLE ALLIANCE WORKFORCE PRIVATE LIMITED
Manager / in Charge - Production/Quality/Cutting - Garments Industry
Permanent · Bhiwandi
MINT AND MILK COMMUNICATIONS
Senior Account Executive
Permanent · MUMBAI
PUMA
Manager- Buying (Apparel)
Permanent · Bengaluru
PUMA
Manager- Business Intelligence
Permanent · Bengaluru
PUMA
Manager- Trade Compliance
Permanent · Bengaluru
LEVI'S
Technical Product Manager
Permanent · Bengaluru
PUMA
Manager- Supply Planning
Permanent · Bengaluru
PUMA
Senior Manager - Performance Marketing- Marketplac…
Permanent · Bengaluru
PUMA
Regional Sales Manager- Mbo (South)
Permanent · Bengaluru
PUMA
Manager- Returns And Spf Operations
Permanent · Bengaluru
PUMA
Manager Merchandising
Permanent · Bengaluru
By
Reuters
Published
Dec 17, 2008
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Nike net profit rises, but US revenue down

By
Reuters
Published
Dec 17, 2008

SAN FRANCISCO (Reuters) - Nike Inc's quarterly net profit rose 9 percent on higher-priced products and international growth, but revenue fell in the United States, its largest segment, and at the non-Nike brands group.

Shares slipped 1.7 percent in after-hours trade.

The world's largest athletic shoe and clothing maker said second-quarter net income rose to $391.0 million, or 80 cents per share, from $359.4 million, or 71 cents per share, a year earlier.

Sales rose 6 percent, with gains in all regions except the United States, where revenue fell 1 percent. Revenue rose 6 percent in Europe and 22 percent in the Asia Pacific region.

Revenue in the company's non-Nike brands group, which includes Cole Haan, Hurley and Converse, fell 4 percent. Nike recently sold off two brands in the division: Bauer Hockey and the Starter Brand.

Nike has remained relatively resilient to the weakening consumer environment around the world and had managed to raise prices in the United States, its largest, most mature market. Business this year was also buoyed by interest in the Beijing Olympics, with China as Nike's fastest-growing market.

Global orders for delivery of shoes and apparel now through April fell 1 percent, but rose 6 percent on a constant currency basis, the company said.

U.S. futures orders rose 6 percent in the United States, but fell 13 percent in the region that includes Europe, the Middle East and Africa. Orders rose 11 percent for the Asia-Pacific region and 6 percent for the Americas.

Gross margins rose in the quarter to 44.7 percent of sales from 44.3 percent, helped by favorable hedge results and price increases. The company's tax rate also fell to 24.9 percent from 30.3 percent a year earlier.

But marketing costs and overhead spending rose in the quarter, Nike said.

Nike shares, which trade at about 12 times projected fiscal 2009 earnings, are valued above those of main German competitor Adidas AG , at 8 times estimated fiscal 2009 earnings.

Shares fell to $49.79 in extended trade, after closing on the New York Stock Exchange at $50.64, up 2 percent.

(Reporting by Alexandria Sage; Editing by Bernard Orr)

© Thomson Reuters 2022 All rights reserved.