The Commercial Appeal
Nike profits soar as worldwide sales rise
Nike Inc. said Friday that quarterly profits rose 22 percent to $668 million. Worldwide sales for the Beaverton, Ore., sporting goods company rose 7.4 percent to $6.7 billion.
Nike reported higher demand for running and basketball gear in North America, while discount prices prevailed in China, where consumers shunned apparel that didn’t have the right fit or sophistication.