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Nike posts bigger quarterly profit
Created on Tuesday, 20 December 2011 14:24Category: Earnings
(Reuters) - Nike Inc (NYSE:NKE - News) posted a bigger quarterly income, helped by strong demand and price rises.
For the second quarter ended November 30, the world's biggest sports clothing maker earned $469 million,
or $1 a share, compared with $457 million, or 94 cents a share, last year.
Revenue at the company, known for its swoosh-logoed merchandise, rose 18 percent to $5.7 billion.
Futures orders for the Nike brand, a closely watched measure of demand in coming months, grew 13 percent to $8.9 billion.
(Nivedita Bhattacharjee in Bangalore; Editing by Unnikrishnan Nair)
Courtesy Yahoo Financial News