Blog: Leonie BarrieNike sprints ahead

Leonie Barrie | 27 June 2007

The future’s looking bright for Nike. In its fourth-quarter results report, the world’s largest athletic shoe maker today said profit jumped 32% on strong gains in overseas markets and subsidiary businesses, while forward orders due for delivery between June to November surpassed expectations by rising 12%.

Most importantly, it seems the company will be able to maintain this momentum. Nike says China is poised to become its second-largest market in a few years, with the positive effect of rising incomes and sporting events igniting consumer spending on athletic footwear and clothes. And demand is likely to rise even more in the second half of the coming year against the backdrop of the Beijing Olympics.

The company is also benefiting from offering its product within a wider array of retail stores than in the past, and has already made concrete plans to capitalise on this success. Not only does it intend to diversify its retail business even further in the future, including around 100 of its own independent sites, but the recently announced House of Hoop basketball stores with Foot Locker will generate significant sales growth in this specialist market.

Nike Q4 profit soars by 32%


BLOG

Trump spares textile machinery in tariff spat

Hundreds of US imports from China will be hit with an additional 25% tariff from next month – but to the relief of the US textile, apparel and footwear industry, most of the equipment used in the dome...

BLOG

Esquel's eco-friendly manufacturing complex

Hong Kong-based Esquel Group, the world's largest woven shirt maker, has been bedding-in operations at a ground-breaking new $313.3m eco-friendly manufacturing complex in southern China....

BLOG

Tariffs back at top of Trump's trade agenda

Tariffs soared back to the top of Trump's trade agenda last week, with the imposition of punitive tariffs on imports of steel and aluminium, and plans to proceed with an additional 25% tariff on impor...

BLOG

Digitalisation goalposts constantly evolving

The debate and discussion around digitalisation continues to top the apparel industry’s agenda – but as Spencer Fung, group CEO of Li & Fung explains, the goalposts are constantly evolving....

just-style homepage



Forgot your password?