USA: Nike Q1 Net Sprints 28 Per Cent, Global Growth
The world's largest sportswear and athletic shoe company, Nike Inc, on Friday posted a 28 per cent leap in fourth quarter net income and a 12 per cent jump in full-year net profit to $663.3m compared to the year-ago period. The Oregon-based company said its solid results were boosted by continued improvements in the US footwear market and international sales. It added that revenues for the fiscal year climbed eight per cent to $2.68 billion from $2.48bn in 2001. Fourth quarter net income surged 28 per cent to $208m.
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