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NIKE Revenue Jumps 9%; North America Remains Biggest Earner


International sportswear brand NIKE has released the financial results for its fiscal 2019 third quarter that ended on February 28, 2019.

Revenues of the retailer jumped 7 percent to US $ 9.6 billion during the quarter.

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Particularly for the NIKE Brand, revenues were US $ 9.1 billion, up 12 percent from the corresponding quarter of last year.

The growth was driven by surge in wholesale, NIKE Direct, Sportswear and Jordan categories.

However, revenues for the Converse brand remained US $ 463 million, marking a drop of 2 percent over last year’s third quarter.

NIKE’s net income stood at US $ 1.1 billion for the reporting quarter.

During the month of February 2019, inventories for NIKE increased by 1 percent to US $ 5.4 billion.

Region-wise, North America fetched US $ 916 million (up 9 percent) in earnings for NIKE; Europe, Middle East & Africa US $ 538 million (up 29 percent); Greater China 639 million (up 29 percent); Asia Pacific & Latin America US $ 339 million (up 14 percent).

Apparel segment in particular generated more than US $ 2.7 billion for NIKE sportswear brand, while footwear stood at US $ 6.12 billion for the quarter.

ALSO READ: NIKE Is World’s Most Valuable Apparel Brand!

“In the third quarter, our team once again drove strong, healthy growth across NIKE’s complete portfolio. Our business momentum is being accelerated by our ability to scale innovation at a faster pace and expand new digital consumer experiences around the world,” said Mark Parker, Chairman, President and CEO, NIKE.

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