American sportswear giant NIKE has reported financial results for the third quarter ended February 28, 2017. Consumer demand in all geographies drove revenue growth across the NIKE Brand portfolio.
During the quarter under review, revenues for the brand increased 5 per cent to US $ 8.4 billion, up 7 per cent on a currency-neutral basis. The retailer’s net income increased 20 per cent to US $ 1.1 billion during the third quarter.
“The power of NIKE’s diverse, global portfolio delivered another solid quarter of growth and profitability,” said Mark Parker, Chairman, President and CEO, NIKE, adding, “To expand our leadership and ignite NIKE’s next phase of growth, we’re delivering a relentless flow of innovation through performance and style, increasing speed throughout the business and creating more direct connections with consumers leveraging digital and membership.”
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NIKE Inc. is the world’s leading designer, marketer and distributor of authentic athletic footwear, apparel, equipment and accessories for a wide variety of sports and fitness activities.
