The American company Nike, a world famous manufacturer of sports shoes and apparel, has reported for the first quarter of the current fiscal year. Against the backdrop of global financial instability, the sports company reports on the growth of sales, the profit from which as of August 31, 2011 grew 15%.
The first quarter of the 2011-2012 fiscal year was not easy for many manufacturers, especially American and Japanese, but not for Nike. The sportswear company increased its profits to $ 645 million, which is equivalent in percentage terms to a 15% increase. This development has surpassed all expectations of analysts and Wall Street experts. In the North American market alone, the company's revenue amounted to about $ 2,2 billion (+ 16%). In less developed markets, Nike earned $ 799 million, increasing profits by 35%.
Among the "profitable" were the American, Chinese and Indian sales markets, where, in contrast to Western Europe, there is a stable growth in demand for Nike products. So, after recalculating in accordance with the current exchange rate, the company's revenue from this region did not match the previously announced 14% increase.
Assessing Nike's financial performance globally, it is worth noting the total profit increase to $ 6,08 billion (+ 18%). This year was more than successful for the sports manufacturer: under the four-year share buyback program, the company managed to “assign” 7,7 million shares for a total of $ 649 million. 2012 year promises to strengthen the company’s “strong” position, hopes Nike CEO Mark Parker . About it writes IA "AMITEL".