Nike re­bounds Brand beats fore­casts

The Irish Times - Business - - FRONT PAGE -

Global sportswear brand Nike sur­prised an­a­lysts last night by beat­ing their fore­casts for sec­ond-quar­ter earn­ings and sales. The com­pany’s shares, hav­ing been un­der pres­sure ear­lier in the day, soared by 8 per cent in af­ter-hours US trade. Earn­ings per share were 52 cents, ahead of es­ti­mates by 6 cents. Sales of $9.4 bil­lion com­pared to fore­casts of $9.17 bil­lion, with the com­pany re­port­ing par­tic­u­lar strength in China and north Amer­ica. Bil­lions of dol­lars were briefly wiped off Nike’s share price ear­lier this year af­ter the com­pany said con­tro­ver­sial Amer­i­can foot­baller Colin Kaeper­nick would be the face of its lat­est mar­ket­ing cam­paign. Kaeper­nick is fa­mous for kneel­ing dur­ing the US na­tional an­them be­fore games as a protest against po­lice bru­tal­ity to­wards African-Amer­i­cans. Pic­tured is a Nike ad fea­tur­ing Kaeper­nick on dis­play in New York.


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