评论
打印
Despite economy, Nike soars
Nike has seen its third-quarter income leap by 32% compared to a year ago
It looks like the weakening US economy is not weighing on Nike whatsoever. The athletic apparel giant out with its earnings late last night after the closing bell and they did shock---profit up 32% from the same period a year ago. That is for its fiscal third quarter.Now the stock got such a pop-off that it did have to suspend trading for just a bit.
So what is helping Nike, is it the US? No, not really. The stock is up almost 7% right now. But again, those gains not in the US. It did see a respectable 5% increase in sales here in the US, but those gains were overseas--- in Europe, sales up 23%; in Asia, sales up 27% . Now, of course, the Olympics in Beijing are coming up. Nike is doing a lot to prepare for that. Nike doesn’t always sponsor the Olympics but it of course does work with a number of those top Olympic athletes. So some great news out for Nike, the stock is benefiting from it. Here back up again, close to that 52-week high that we saw back in November, looks like it could top that now after this news.
Notes:
Weigh on: to exert influence
