Nike shares jump on strong demand in China as footwear brands prove popular
In its home market of North America future orders were up 14%, helped by demand for its higher-margin footwear brands including basketball shoes named after LeBron James, the basketball star with whom Nike just signed a lifetime sponsorship deal rumoured to be worth more than $500 million (£336.8 million).
The company has seven of the world’s 10 highest-earning sports stars on its books, including Roger Federer and Tiger Woods.
Total future orders were 20% higher, well above analysts’ expectations of 13.6%Nike also reported second-quarter revenue up 4% at $7.7 billion and net income of $785 million, a 20% increase.
Chief executive Mark Parker was upbeat for the coming year.
"We see tremendous opportunity ahead as we enter an Olympic and European Championships year with a full pipeline of inspiring innovation for athletes everywhere," he said.