Diluted earnings per share rose by 22 per cent in the second quarter of fiscal 2016 to $0.90 as compared to $0.74 in the corresponding quarter last fiscal. Gross profit rose by 5 per cent in the second quarter of fiscal 2016 to $3.5 billion as compared to $3.3 billion in the corresponding quarter last fiscal.
Selling and administrative expense increased 5 per cent to $2.6 billion and operating overhead expense increased 7 per cent to $1.8 billion in the second quarter of fiscal 2016.
Commenting on the results, Mark Parker, president and CEO of Nike Inc said, “Our strong Q2 growth and profitability show that Nike continues to drive real momentum through the category offense – by going deep with consumers by sport and serving them completely.”
“Our powerful global portfolio of businesses, combined with strong financial discipline, continues to drive significant shareholder value. 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 added. (MCJ)
Fibre2Fashion News Desk – India
Textiles | On 28th Mar 2017
The Government of India is likely to impose anti-dumping duty on...
Apparel/Garments | On 28th Mar 2017
The Competition Commission (CCI) of India has approved the proposal...
‘One of the recent trends in hand block printing is the indigo process,...
Setting up a brand for online selling is easy, but running the brand is not
Bridalwear is not about reds and whites anymore
The Indian market has huge potential in technical textiles, and by far,...
Voith Paper GmbH & Co. KG
The glass mat industry is growing by five to eight per cent annually. Kai...
Nature Works LLC
Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...
Yash P. Kotak
Bombay Hemp Company
One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...
Rupa Sood and Sharan Apparao
Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...
Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...
Apparel/Garments | On 27th Mar 2017