Quarterly Net Income for Nike Rises by 14 Percent

Nike quarterly net income rose 14 percent to $594 million offsetting higher costs and surprisingly they have a strong order book for the future. Net income for the same period last year was $522 million. In after-hours trading, Nike share gained 4.3 percent to reach $84.14. According to Matt Arnolod, an Edward Jones analyst, Nike was able to overcome high cost pressure in the retail sector because of strong market demand for its brand. Barclays Capital analyst Robert Drbul said that futures orders are expected to be up 8 to 10 percent in constant dollars.

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Nike quarterly net income rises 14 percent