28.09.2016 - Nike's profit totaled 1.25 billion dollars
Nike Inc. reported an increase in revenues by 7.7% on the background of strong performance in the US. For the quarter that ended August 31, the world's largest manufacturer of sportswear received 9.06 billion dollars in revenue, compared with 8.41 billion a year earlier. The growth of orders except for the effects of currency fluctuations was 7% compared to 17% in the same period last year. In general, the company's profit amounted to 1.25 billion dollars, that is better than the 1.18 billion dollars a year earlier. We expect price growth in the medium term, but we can see the correction by 15-20% in the coming months.