Nike profit up 8.1% on new products, tax gain
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From Bloomberg News
Nike Inc. said its fiscal second-quarter net income rose 8.1%, helped by iPod-compatible shoes and a tax gain.
Earnings grew to $325.6 million, or $1.28 a share, beating analysts’ estimates. Profit was $301.1 million, or $1.14, a year earlier, Nike said. Revenue grew 10% to $3.82 billion.
The company boosted sales with the Nike Plus shoe that works with an iPod and signature footwear from basketball star LeBron James. A tax agreement with the Netherlands added 13 cents a share to profit.
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