Blog: Nike continues to do it
Leonie Barrie | 20 December 2007
Athletic shoe and clothing powerhouse Nike has proved that a combination of geographic diversity, coupled with a range of brands and prices, is enough to help it weather the storm in an uncertain economic environment. Its second-quarter results released yesterday were better-than-expected, with profit up 10% to $359.4m and revenues rising by 14% to $4.34bn.
Overseas growth was strongest, with European sales up 18% and Asian-Pacific sales growing 17%, but significantly, the company even managed to pull ahead in the US where sales rose by 7% despite a general slump in demand for athletic shoes among US mall-based retailers and fears of an economic slowdown.
More importantly, this growth looks like it will be sustained in coming quarters. In China the company has huge expectations for next year’s Olympics in Beijing, and in Europe there is the Euro 2008 soccer tournament to boost sales.
And its customers seem to agree. Global orders for delivery of shoes and apparel from this month to April of next year are up 13% , Nike said, to $6.5bn.
Some of just-style’s more eagle-eyed readers might have noticed a small change to the menu bar on the homepage: the addition of the word re:source. Yes it might be a small change – but it marks the co...
Over the past week just-style has continued to try to unravel the potential ramifications of Donald Trump’s election as the next president of the United States....
One event dominated the international airwaves last week, and on just-style too we took a closer look at the surprise election of Donald Trump as the 45th president of the United States....
As the Brexit roller-coaster continues to twist and turn, and the US presidential election campaign nears its unpredictable and possibly protectionist end, there's no doubt these events – and the perc...
- Steps to piloting living wage in garment factories
- How to ensure sustainability is more than a slogan
- US apparel retailers' November 2016 sales roundup
- Why do modern robotics elude sportswear makers?
- Software for financial planning and operations
- Esquel efficiency drive continues to boost brands
- US Q3 in brief – Oxford Industries, Genesco
- Myanmar garment industry "lacking labour rights"
- Taiwan textile maker investing in first US plant
- Outdoor apparel sector set for double-digit growth