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Nike reports another strong quarter


Nike has reported a sales increase of 13 percent (currency neutral: 14 percent) to $7.0 billion for it’s continuing operations in the third quarter (Feb. 28). The Nike brand alone lifted its turnover by currency neutral 14 percent to $6.6 billion across all product categories and all geographical regions. Converse soared by 16 percent to $420 million, mainly thanks to a strong performance in the US, the UK and China. The entire group improved its gross margin by 30 basis points to 44.5 percent. Net profit jumped by 3 percent to $685 million. In Western Europe, the company improved by 22 percent (currency neutral: 19 percent) to $1.3 billion. In that region, footwear was up by 28 percent (24 percent) to $891 million, apparel by 11 percent (8 percent) to $338 million and equipment by 11 percent (7 percent) to $63 million.

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