NIKE REPORTS SECOND QUARTER GROWTH
Footwear giant Nike Inc. has reported financial results for its fiscal 2017 second quarter ended November 30, 2016. Diluted earnings per share were up 11 percent to $0.50, primarily due to selling and administrative expense leverage and a lower outstanding average share count.
Revenues for Nike, Inc. increased 6 percent to $8.2 billion, up 8 percent on a currency neutral basis. Meanwhile, revenues for the Nike brand were $7.7 billion, up 8 percent on a constant currency basis, and revenues for Converse were $416 million, up 5 percent on a currency neutral basis, driven by strong growth in North America. Net income increased 7 percent to $842 million.
“Nike’s ability to attack the opportunities that consistently drive growth over the near and long term is what sets us apart,” said Mark Parker, chairman, president and CEO, Nike, Inc. “With industry-defining innovation platforms, highly anticipated signature basketball styles and more personalized retail experiences on the horizon, we are well-positioned to carry our momentum into the back half of the fiscal year and beyond.”
