Heads Up Football Not Effective As Claimed New Russell Wilson Men's Wear, Poster Twitter Stumbles Again In Q2 Durant Cheered In Team USA Game Saints Part Of West Virginia Relief Effort Federal Funds For Civic Arena Site Project Puma Beats Expectations In Q2 Brickyard 400 Rebounds From Low '15 Audience Bettman Denies CTE-Concussions Link
Nike Inc. reported first-quarter net income of $253.1M, or $0.85 per share, compared to $226.1M, or $0.76 per share, up 12% from a year ago. First-quarter revenues were $2.77B, up 21% from $2.28B last year. The company's global footwear revenues were up 18%; global apparel was up 41%, while non- U.S. revenues increased 48%. Nike's future orders rose 10%, with a 33% increase in Asia Pacific and a 38% increase in the Americas, compared to a 1% increase in the U.S. (Nike). WHAT IT MEANS: CNBC's Sue Herera reported that in a conference call with analysts, Nike said it "sees" overall revenues growth of 12-14% in FY '98, "but says that it would be difficult for income to track up as fast as sales, largely because of currency, and a likely decline in footwear sales in the U.S." ("Business Tonight," CNBC, 9/18). On CNN's "Moneyline," Jan Hopkins characterized future orders as "very weak" ("Moneyline," CNN 9/18). Nike closed yesterday on the NYSE at $54.875 a share, gaining $2.375 a share (WALL STREET JOURNAL, 9/19).