Nike's revenue in Q1 2009 reached $5.4 billion, a 17% increase from a year earlier. This growth was primarily driven by a 20% and 36% increase in the EMEA and Asia regions, respectively
Nike Sponsors the Beijing Olympics. Revenues increase 50% in August
Nike shares, in addition to many other retail companies, fall on executive guidance citing warnings about uncertianty in sales across the retail industry as a result of the current credit crisis.
Ticker Mine surveyed three individual retailers at several locations (Dicks Sports Goods, Foot Locker, and The Finish Line) and all three retailers responded Nike shoes and apparel were top sellers at the largest number of locations.
Sales in China surged 50%, ahead of the 2008 Beijing summer Olympics. Net income surged 32 percent to $463.8 million, or 92 cents a share. Revenue rose 16 percent to $4.54 billion, ahead of the $4.35 billion estimated by analysts.
Nike Begins Plans on Marketing Eco-Friendly Footwear and Sports Apparel
Rumors that Japanese shoe company was considering a joint Adidas takeover with Nike were largely dispelled after a statement from Asics today. Shareholder excitement over a takeover pushed Adidas up 2% on Monday.
Nike's share price dipped from $54.53 to $52.57 as Nike released its fourth quarter 2006 results. Although margins were strong, gross profit and US sales both fell short of expectations, leading investors to downwardly revalue the stock.
Nike announced plans to build a new distribution center in Tennessee. The center promises to reduce shipping costs and improve service capabilities. In response to the announcement, Nike's share price jumped from $51.23 to $52.55.
Nike's share price fell from $54.02 to $51.99 as Nike and Payless announced plans to collaborate on a new, low-cost shoe. Investors worried that the shoe represents a departure from Nike's traditional niche and does not promise high profit margins.
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