Nike's net profit drops severely

Nike's net profit drops severely

Shoe giant Nike did not bring in as much net profit in 2013/2014's third quarter compared to the same quarter last year, as it dropped 21 %, despite a nearly 13 % turnover growth to 7 billion dollars (5.1 billion euro).

Nike and Converse growth

An important reason for this decrease was the sale of Umbro and Cole Haan the year before, because they had brought in 204 million dollars (148 million euro) for the American sports company. Left out of the equation, Nike's profit grew 3 % to 685 million dollars (500 million euro).

 

Nike was responsible for the largest share of the company's turnover, with 6.6 billion dollars (4.8 billion euro, + 14 %), while Converse brought in 420 million dollars (305 million euro, + 16 %). Its growth was mainly because of good results in China, the United States and the United Kingdom, while Nike managed to get growth in every region.

Questions or comments? Please feel free to contact the editors


New CEO for Nestlé Belgilux

23/11/2017

Nestlé announced that Michel Mersch will become Nestlé Belgilux’ new CEO. He will succeed Alexander von Maillot, who will transfer back to the Swiss main office.

Rémy Cointreau's expensive cognacs perform well in Asia

23/11/2017

French liquor group Rémy Cointreau had an excellent third quarter. Its more expensive bottles of cognac were very popular, especially in China, Japan and Singapore.

Online FMCG sales continue to soar

22/11/2017

According to a new Kantar Worldpanel report, online grocery sales grew 30 %, in stark contrast with the overall 1.3 % increase. Online sales now contribute 4.6 % to the overall FMCG sales, but that will grow to 10 % (145 billion euro) by 2025.

Nestlé considers Hain Celestial acquisition

22/11/2017

Nestlé is allegedly interested in a Hain Celestial acquisition. The food company manufactures organic and vegetarian food and is currently valued at about 3.5 billion euro.

Scotland is first to enforce minimum alcohol price

21/11/2017

Scotland is the first in the world to finally enforce a minimum price for alcohol. The law as approved in 2012, but whisky distillers managed to block the legislation up until now.

Europe approves organic reform, Belgium abstains

21/11/2017

The European Commission approved new legislation to simplify organic agriculture in Europe. It will be enacted in July 2020. There was no agreement among Belgian politicians, which is why Belgium abstained.

Back to top