Filed under: Earnings reports, Good news, Consumer experience, NIKE, Inc’B’ (NKE)

With recession fears, housing market worries and credit concerns, retailers have been facing tough times over the past few months. But on the heels of these worries, shares of world’s largest athletic shoemaker, Nike Inc. (NYSE: NKE), have been climbing today the most in almost nine months after announcing last night stronger-than-expected third-quarter profit.

The company said its quarterly profit surged 32% to $463.8 million, compared with $350.8 million a year earlier boosted by strong gains in Europe and Asia. The company posted earnings 92 cents a share, exceeding analysts’ forecast for a quarterly profit of 80 cents a share.

The company’s quarterly revenue grew by a respectable 16% to $4.54 billion. For this period, the athletic shoemaker counted strong sales for products lifted by the weak U.S. dollar. Analysts, on average, expected Nike’s sales to be $4.36 billion, according to FactSet.

Continue reading Nike (NKE) third-quarter profit surges on strong international sales

Read | Permalink | Email this | Comments

Share This

This entry was posted on Thursday, March 20th, 2008 at 3:41 pm and is filed under Stocks Money News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.