Nike Gains

Nike Inc. (Beaverton, Ore.) has reported an 11 percent increase in revenues for its second quarter ended Nov. 30, 2004. Net income for the quarter was up 46 percent.

“We posted another quarter of record results,” said chairman and ceo Philip Knight. “Nike’s second quarter revenues and earnings per share reached all-time high levels as a result of solid performance across our global portfolio. Our businesses in the United States and emerging markets such as China, Russia and Turkey, combined with favorable European exchange rates, helped drive much of this growth.

“Consumer demand for Nike products continues to grow, as evidenced by our sixth consecutive quarter of strong futures results,” Knight added. “The U.S. market has been particularly robust, reporting futures growth of 10 percent. The Nike brand is healthier than ever and our innovative products continue to excite consumers around the world.”

In the U.S., revenues increased 5 percent — athletic footwear revenues increased 9 percent, while apparel revenues decreased 3 percent. The company said this decline was due predominantly to the expiration of Nike’s license agreement with the National Basketball Association. Equipment revenues increased 11 percent.