Sports textile company Nike posted a net profit of $4,607 million (€4,173 million) in the first nine months of its fiscal year, which equates to a 9.2% increase over the same period of the year above, according to the company.
The multinational’s net income between June 2021 and February 2022 increased 7% year-over-year, to $34,476 million (€31,232 million).
Nike’s total sales in North America were $13.238 million (€11,992 million), up 12%, and in the EMEA region (Europe, Middle East and Africa) it grew 9% to $9,228 million (€8,360 million).
For its part, the company’s revenue in China declined by 6% in the first quarter, to reach $ 5,986 million (€ 5,423 million), while it increased by 10% in the Asia Pacific and Latin America region, to reach $4,273 million. (3,871 million euros).
In the third quarter of the fiscal year ending February 28, Nike earned a net profit of $1,396 million (€1,265 million), down 3.6% from the same period a year earlier. For its part, sales of the multinational increased by 5% to 10,871 million dollars (9,848 million euros).
“Nike’s strong results this quarter show that our strategy is working,” said John Donahoe, Nike’s president and CEO. “We have the right evidence to weather volatility and create value,” he added.
“Beeraholic. Friend of animals everywhere. Evil web scholar. Zombie maven.”