Home / Knowledge / News / Apparel/Garments / Net income surges 20% at Nike in Q3FY17
Net income surges 20% at Nike in Q3FY17
Mar '17
For the third quarter ended February 28, 2017, net income at global sports goods and apparel retailer Nike surged 20 per cent year on year to $1.1 billion, while diluted earnings per share jumped 24 per cent to $0.68. Nike attributed it to selling and administrative expense leverage, higher other income and a lower tax rate, which offset lower gross margin.

In the third quarter of fiscal 2017, Nike reported revenues at $8.4 billion, up 5 per cent over a fiscal ago quarter and 7 per cent on a currency-neutral basis.

However, gross margin for the reporting quarter contracted 140 basis points year over year to 44.5 per cent over the third quarter of fiscal 2016 from unfavourable changes in foreign exchange rates and the impact of higher off-price sales.

Other income, net stood at $88 million in the quarter under review, comprised primarily of net foreign currency exchange gains, and to a lesser extent, non-operating items. 

The effective tax rate was lower at 13.8 per cent as against 16.3 per cent for the same period in the previous fiscal. (AR)

Fibre2Fashion News Desk – India

Interviews View All

Top executives, Textile industry

Top executives
Textile industry

In 10 years' time, everything will have the responsible factor integrated

Cyril Pereira, Reed Exhibitions India, organiser of Asian Machine Tool Exhibition 2016

Cyril Pereira
Reed Exhibitions India, organiser of Asian Machine Tool Exhibition 2016

'Major problem in the textile machinery manufacturing industry is the lack ...

Abhishek Samdaria, Reflete

Abhishek Samdaria

GST will certainly reduce a lot of paperwork in future

Franco Ravazzi,

Franco Ravazzi

Italy-based Tessimenti E Orditi Tinti (T.O.T SRL) specialises in stocking...

Wolfgang Muller,

Wolfgang Muller

Mayer & Cie is a leading global manufacturer of circular knitting...

Priyanka Gandhi,

Priyanka Gandhi

Established in 2016, Surat-based Shree Ganesh Yarns is a manufacturer of...

Kai Poehler, Voith Paper GmbH & Co. KG

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Mr Hartmann Huth, Trevira GmbH

Mr Hartmann Huth
Trevira GmbH

Trevira GmbH is an innovative European manufacturer of high-value branded...

Paige Mullis, Glen Raven Inc

Paige Mullis
Glen Raven Inc

Paige Mullis discusses the expansion plans of Glen Raven Inc in India, and ...

Ritu Kumar, Label Ritu Kumar

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Wendell Rodricks, Wendell Rodricks

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Sweta Tantia, Tahweave & Garo

Sweta Tantia
Tahweave & Garo

Designer Sweta Tantia owns Garo, a couture indutva or ethnicwear brand,...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


Leave your Comments

November 2019

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

Follow us on instagram


Follow Fibre2Fashion On

Follow Fibre2Fashion On

Advanced Search