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Nike Posts Net Profit Up 10%

Despite a slump among American mall-based retailers for athletic shoes, Nike remains unaffected and reported better-than-expected fiscal second-quarter results.

Athletic footwear maker Nike reported its fiscal second quarterly net profit jumped 10%, helped by strong international demand.

The company's second quarter net profit grew 10% to US359.4 million, or 71 cents per share, as compared to US325.6m, or 64 cents a share, a year ago. Sales increased 14%, to US4.34 billion.

Nike has focused on emerging markets. In October, the company announced it would buy Umbro for US582.2m.

 

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