Retail in Asia

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Nike profits surge due to higher US and China sales

Nike Inc’s fiscal third-quarter profit more than doubled due to higher sales in the US and China, outpacing analysts’ expectations, as the athletic shoemaker reported a jump in future orders.

Worldwide future orders – an indicator of growth based on estimates of product orders – rose by 9 percent to USD7.1 billion, and were up 6 percent, excluding currency changes.

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(Source: The Wall Street Journal Online)