Nike'S First Quarter Profit Fell 12% To $567 Million.

Nike (Inc.) (NKE), the world's largest sports product maker, announced on Thursday that its first quarter profit fell 12% to $567 million, or $1.23 a share, compared with the previous year's profit, which was 645 million U.S. dollars in the same period last year, or 1.36 US dollars per share.

Revenue grew from $6 billion 80 million in the same period last year to $6 billion 670 million, an increase of 10% over the same period last year.

accept

Analysts surveyed average expected earnings of $1.12 per share in the first quarter of and $6 billion 430 million in revenue.

The world's future orders grew by 6%, and gross margins dropped by 80 basis points to 43.5%.

The first quarter of fiscal year 2012, Nike's

For $645 million, earnings per share were $1.36.

Excluding the company's planned Cole Haan and Umbro business, Nike's first quarter earnings per share were $1.27, exceeding analysts' expectations.

According to Thomson Reuters survey, analysts expect Nike to earn $1.12 a share in the first quarter.

By region, Nike's first quarter revenue from North America was 2 billion 706 million US dollars, an increase of 23% over the same period last year of 2 billion 200 million US dollars. The effect of not counting on exchange rate changes increased by 23% compared with the same period last year. The revenue from Western Europe was 1 billion 167 million US dollars, a 5% decline over the same period last year, and the impact of exchange rate fluctuations was 6%.

The first quarter of Nike's revenue from the Greater China region was $572 million, an increase of 8% over the same period last year of $528 million, and the impact of exchange rate changes was 7% over the same period last year.

Its revenue was 183 million US dollars, down 6% from 194 million US dollars in the same period last year. The impact of the exchange rate fluctuation was 7% compared with the same period last year. The revenue from emerging markets was US $867 million, a 8% increase over the same period last year.

Like many other companies, Nike is under a lot of pressure due to global economic uncertainty and fluctuating costs.

Although Nike continues to launch products with new styles, colors and materials for consumers, it resonates with them, but the decline in profit margins still leads to pressure on the company's performance.

In the first quarter, the indirect cost of Nike's business increased by 18%, mainly due to the increase in marketing expenditure of the key product innovation plan and the support for the Olympic Games and the European Championships.

Nike shares rose 0.51 dollars in the regular trading on the New York stock exchange, closing at $96, or 0.53%.

In post trading, Nike's stock price fell 3.44%. In the past 52 weeks, Nike's highest price was 114,.81 dollars, the lowest price was 81.01 dollars.