North America continues to pressure Nike's results

North America continues to pressure Nike's results
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Lifestyle brand Nike generated an 8.6 billion dollar (7.3 billion euro) second quarter turnover, 5 % more than last year’s second quarter. North American turnover is still under pressure however.

 

Smaller net profit

The Nike brand’s turnover grew 4 % to 8.1 billion dollars (6.8 billion euro), while Converse’s turnover dropped 4 % to 408 million dollars (350 million euro). Weaker North American results also impacted Converse’s overall turnover more. Despite a higher turnover, its net profit dropped from 842 to 767 million dollars (650 million euro).

 

Turnover in the EMEA region (Europe, Middle East and Africa) grew 19 % to 2.133 billion dollars (1.8 billion euro). Chinese turnover grew 16 % to 1.222 billion dollars (1 billion euro) and there was a 6 % turnover increase in the rest of Asia and Latin America to 1.273 billion dollars (1.1 billion euro). North American results were not as positive: turnover in Nike’s largest market dropped 5 % to 3.485 billion dollars (2.95 billion euro). Several retail partners performed weakly and major competitor Adidas’ surge hampered Nike’s performance. It is the company’s second straight quarter with lower turnover in North America.