American sports brand Nike has surpassed analysts' expectations in the second quarter, mainly thanks to increased Chinese and North American demand.
Increased Chinese demand
Nike's second quarter turnover grew 4.1 % to 7.69 billion dollars (7.04 billion euro), with a 785 million dollar (719 million euro) net profit. That is up 20 % compared to a year ago.
North America, Nike's largest market, managed a 9.4 % turnover increase while shoe sales even grew 12.3 %. Chinese turnover grew 24 %, thanks to remodeled stores and improved online sales.
Its "future orders", which are orders for the next quarter, also grew 20 %. This goes to show that the demand for Nike products is still increasing. Chinese future orders even boosted up 34 %.