Nike takes full advantage of increased Chinese demand | RetailDetail

Nike takes full advantage of increased Chinese demand

Nike takes full advantage of increased Chinese demand

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 %.

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