Nike Delivers $7.4B Quarter, Future Orders Slow

Nike Inc. continues to outpace the competition.

The company once again beat expectations during its second quarter. For the period ending Nov. 30, the company said net income grew 23 percent to $655 million, or 74 cents per diluted share, compared with $534 million, or 59 cents per share, in the year-ago period. Analysts had predicted earnings of 70 cents a share.

Overall revenues at the athletic giant increased 15 percent to $7.4 billion.

Footwear saw growth in every market, with the largest sales gains in North America, Western Europe and China. North America led the way, with footwear sales of $1.9 billion for the quarter.

Despite strong sales and an all around good quarter, the company’s shares slipped in after-hours trading.

Future orders for December 2014 to April 2015 were up 11 percent, excluding currency changes, the lowest increase in a year. Analysts had expected futures to grow 11.3 percent.

“Our strong second quarter results once again demonstrate Nike is a growth company,” said Mark Parker, president and CEO. “The power of our portfolio continues to unlock growth as we keep a laser focus on our biggest opportunities.”

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