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.
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“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.