Revenue rises 4% in Q2 FY16 at Nike Inc

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