Nike Inc has reported financial results for its fiscal 2011 second quarter ended 30 November 2010. Revenue reached US$4.8 billion; up 10% year on year; or if currency changes were excluded revenue was up 11% versus the previous year period.
"We had a great second quarter. Almost every brand, category and geography delivered growth," said Mark Parker, President and CEO of NIKE, Inc.
"We continue to outperform the market thanks to our innovative product, compelling brands and strong marketplace management. That’s good for athletes and consumers, good for our industry, and it’s good for our shareholders.
“Going forward, we’re in the enviable position of having far more opportunities than challenges. I’m confident our strategies can continue to deliver sustainable, profitable growth."
With the 10% gain in net revenue, earnings per share for the quarter were up 24% as Nike brands continued to ‘experience strong sales in the marketplace and benefit from clean inventory positions while better leveraging SG&A [Selling, General & Administrative] expenses.’
As at the end of the quarter, futures orders for Nike brand athletic footwear and apparel, scheduled for delivery from December 2010 through to April 2011, totalled US$7.7 billion.
This was 11% higher than orders reported for the same period last year, with minimal impact from changes in foreign currency exchange rates compared to the prior year.
