Business

Market Movers

Nike profit jumps on N. America strength

Nike said revenue increased 7 percent to $6.7 billion.

Chris O’Meara/Associated Press

Nike said revenue increased 7 percent to $6.7 billion.

Advertisement

Nike Inc., the world’s largest athletic shoe and clothing company, said profits in the fourth quarter rose 22 percent as strength in North America offset weakness in Europe and China. Nike has been working to reduce its inventory in China and adapt to the changing tastes of customers. It also has been focusing on growth in North America, selling less profitable brands like Umbro to focus on its core brands. The company said it earned $668 million, or 76 cents per share, in the period. That compares with $549 million, or 60 cents, a year ago. Analysts had expected 74 cents on revenue of $6.63 billion.

Loading comments...
Real journalists. Real journalism. Subscribe to The Boston Globe today.
We hope you've enjoyed your free articles.
Continue reading by subscribing to Globe.com for just 99¢.
 Already a member? Log in Home
Subscriber Log In

We hope you've enjoyed your 5 free articles'

Stay informed with unlimited access to Boston’s trusted news source.

  • High-quality journalism from the region’s largest newsroom
  • Convenient access across all of your devices
  • Today’s Headlines daily newsletter
  • Subscriber-only access to exclusive offers, events, contests, eBooks, and more
  • Less than 25¢ a week
Marketing image of BostonGlobe.com
Marketing image of BostonGlobe.com