Nike's Q2 earnings report on Thursday afternoon "exceeded analyst expectations," which Chair, President & CEO Mark Parker attributed to the company's "ongoing digital efforts and momentum in North America and international sales geographies," according to Matthew Kish of the PORTLAND BUSINESS JOURNAL. Nike's numbers show that revenue increased 10%, fueled by "higher selling prices and more direct sales" (BIZJOURNALS.com, 12/20). CNBC.com's Amelia Lucas noted although there had been "concerns early in the quarter that a controversial ad campaign" involving Colin Kaepernick could "dampen sales, there weren't any signs of that." Nike said that revenue "grew in nearly every category, with footwear and apparel seeing growth in the double digits globally." Digital sales "led growth across both the Nike and Converse brands." Jordan Brand also saw "sales return to growth" in Q2. Nike said that Q2 net income rose 10% to $847M. In North America, Nike's "biggest market," sales rose 9% to $3.78B, while sales climbed 8% in Europe, the Middle East and Africa to $2.31B. China posted Nike's "most robust growth," with sales climbing 26% to $1.54B. The Asia Pacific and Latin America division rose 2% to $1.3B (CNBC.com, 12/20). At presstime, shares of Nike were trading at $73.10 per share, up 8.25% from the close of business on Thursday (THE DAILY).
