Nike Sports Brand'S Net Profit Increased By 37.6% In The First Quarter.

Benefiting from strong demand in North America and Europe, Nike Inc. (NYSE:NIKE) Xie The group handed out the first quarter report of the 2014 fiscal year to stimulate the stock market to record high in the pre trading session.

In the first quarter of August 31, 2013, sales of Nike Inc. (NYSE:NIKE) group totaled 6 billion 970 million US dollars, slightly higher than analysts' average forecast of US $6 billion 960 million, an increase of 7.7% over the same period last year, including 9% growth in North America and 3 billion 135 million US dollars in sales, while sales in Western Europe rose to 8% US dollars compared with 8% in the same period last year. Chinese sales continued to drag on the group's performance, which was affected by excessive inventory and fierce competition. Sales in the first quarter decreased by 3% to 574 million US dollars compared with the same period last year, but Trevor Edwards, President of NIKE brand, said that the sales growth of NIKE self owned stores in China was over 20%.

By brand, NIKE Sports brand Sales amounted to $6 billion 468 million, an increase of 7% over the same period last year, compared to $6 billion 67 million last year. Converse Sales increased by 16% to 494 million US dollars, and Mark Parker, President and chief executive officer of Nike Inc. (NYSE:NIKE) group, said that it will continue to seek a direct channel to expand Converse Converse in the future.

The group's net profit in the first quarter was 780 million US dollars, an increase of 37.6% over the same period last year of 567 million US dollars and a diluted earnings per share of US $0.86, which is better than the average forecast of US $0.78 by analysts. Last year's earnings per share were US $0.63, and gross margin increased by 120 basis points to 44.9%.

The delivery volume of Nike Inc. (NYSE:NIKE) group between September and January 2014 increased by 12% in Europe and North America, compared with the same period last year, while China had a slight increase of 2%.

The above rates are calculated at a constant exchange rate.

Nike Inc. (NYSE:NIKE) rose to the highest level of $75.30 in 1980 from the pre trading session of the US stock market in September 27th, up 7.05% from the September 26th closing price of $70.34.