American sports brand Nike saw its second quarter turnover grow more than 6 %, as its profit also exceeded analysts’ expectations. Particularly its performances in China and the US were excellent.
Basketball division did not perform as well
Nike’s total turnover in the quarter consisting of September, October and November reached 8.18 billion dollars (7.9 billion euro), up 6.4 % compared to the year before – partially thanks to increased American and Chinese demand. Profit even grew 7 % to 842 million dollars (800 million euro) and Nike even claimed it has an equal amount of “future orders” (for the upcoming six months) compared to the year before.
Over the past few months, Nike pushed up its turnover, thanks to adjusted product prices and more attention for the online sales, a strategy that is now paying off.
On the other hand, the American brand did have to admit its basketball division’s sales were disappointing. That is also why it launched new collections at lower prices, expecting the sales to increase in the second part of the year.
