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Nike net income up 16pc in 3Q15; Greater China sales rise 17pc

Nike Inc, the world’s largest athletic shoe and clothing company, said on Thursday that revenues rose 7 percent to USD7.5 billion for its third quarter of fiscal 2015 ended on 28 February. Excluding currency swings, revenues grew 13 percent. Net income increased 16 percent to USD791 million, driven by strong revenue growth and gross margin expansion.

Sales in Greater China jumped 15 percent from USD697m to USD801m. Stripping out the effect of exchange rates sales in the region rose 17 percent.

Sales in Japan dropped 6 percent to USD166m from USD177m. Excluding currency shifts, sales in Japan rose 8 percent.

"Our strong third quarter results show that our growth strategies are working, even under challenging macroeconomic conditions," said Mark Parker, President and CEO, Nike Inc. "Nike has the ability to deliver consistent shareholder value due to the strength of our brand, our relentless commitment to innovation and our powerful portfolio that allows us to invest in the opportunities with the highest potential for growth as well as manage risk."