Nike's Pre-Tax Earnings In China Jump 27% Thanks To Lift From 'Singles Day' Phenomenon

Nike made more profit in China than Western Europe in its most recent quarter, "partly due to a dramatic increase in online sales" in the country and the "Singles Day" phenomenon, according to Shona Ghosh of MARKETING MAGAZINE. Singles Day is a holiday in China dedicated to unmarried individuals, "and is the biggest shopping day of the year." In the three months to November, Nike's pre-tax earnings in China jumped 27% year on year to $327M, on sales of $938M. That compares to an 18% increase in pre-tax earnings from Western Europe over the same period to $307M, on revenues of $1.3B. Overall, Nike posted a 20% jump in profits to $785M, up from $655M in the same period the previous year. Sales rose 4% year on year to $7.7B from $7.4B (MARKETING MAGAZINE, 12/23).