Nike Beats Expectations In Q2 On Strong Global Demand

Nike's sales rose 10% in Q2 as the company "continued to ride strong demand world-wide" and had the launch of its Colin Kaepernick-fronted ad campaign. North American revenue, which "accounts for the majority of total sales," rose 9% to $3.78B. Gains "included an 8% increase in the footwear business and a 10% rise in apparel." Equipment sales fell 3%. Total sales for the quarter that ended Nov. 30 reached $9.37B, ahead of the $9.17B "expected from analysts" (WALL STREET JOURNAL, 12/20). At presstime, shares of Nike in pre-market trading at $73.57, up 8.9% from the close of business yesterday (THE DAILY).