Nike'S Profit In The Second Quarter Of 2010 Increased By 22% Over The Same Period Last Year.

The largest in the world Gym shoes and Athletic Wear After closing 21 days, Nike, the manufacturer, said the company's second quarter profit increased by 22% over the same period, and earnings per share were higher than analysts' expectations. According to the report released by the company based in Beaverton, Oregon, the net profit in the second quarter was $457 million and earnings per share were $0.94, while the net profit for the same quarter was $375 million in 2009, and the earnings per share were $0.76.

Prior to that, 16 analysts questioned by Thomson Reuters expect Nike's earnings per share for the second quarter to be $0.88. Nike's gross profit in the second quarter was 45.3%, compared with 44.5% in the same period last year, as more products were sold at full price, demand for products, higher inventory level and profit margins were increased by direct selling business.

In the second quarter, Nike's revenue grew by 10% to $4 billion 840 million, compared with $4 billion 410 million a year ago. If the exchange rate changes are not considered, the second quarter revenue growth is 11%. By contrast, 14 analysts expect revenue of $4 billion 810 million. In the first quarter, sales of Nike sports shoes increased by 11% to $2 billion 600 million, and sportswear increased by 8% to 1 billion 400 million dollars, and sports equipment increased by 3% to 234 million US dollars.

　　 Nike In the second quarter, North American market revenue increased by 14% to 1 billion 700 million US dollars, but Western Europe's market revenue dropped 7% to 843 million US dollars, and the central and Eastern European market grew 7%, reaching 223 million US dollars. Greater China revenue increased 20% to $482 million, but the Japanese market revenue fell 14% to $192 million. In the first quarter, revenue in emerging markets increased by 24%, from $607 million a year ago to $755 million.

Revenue from other sectors including ColeHaan, CONVERSE, Hurley Inc, Nike Golf and UMBRO increased by 13% to $631 million. The global orders increased from 11% to 7 billion 700 million US dollars from December 2010 to April 2011. Among them, the North American market orders grew by 16%, the Western European market was flat last year, the central and Eastern European market grew by 9%, the Greater China region grew by 18%, Japan decreased by 2%, and the emerging market grew by 15%. By the end of the second quarter, Nike's global stockpile amounted to US $2 billion 300 million, an increase of 8% over the same period last year.

As part of a 4 year share buyback plan approved by the board in September 2008 for a total of 5 billion US dollars, Nike bought back 3 million 500 thousand shares at about $280 million in the second quarter. By the end of the second quarter, Nike had repurchased 17 million 400 thousand shares and spent about 1 billion 300 million US dollars.

Nike passed the economic crisis by reducing jobs, suspending new employees and managing inventory and other strategic adjustments to cut costs. In May, the company put forward a global long-term strategy, including annual revenue growth to more than 5% by the year 2015, and earnings per share in the middle term should be around 15%. The company plans to earn $27 billion by 2015.