Posted by admin on July 21, 2017
Nike shares up 4 Less expensive sneakers popular with shoppers June 29, 2002By BLOOMBERG NEWS BEAVERTON, Ore. Nike Inc. sales and fewer discounts. Sales of Nike shoes in nike basketball shorts the United States rose for a second straight quarter as the company focused on sneakers priced below $90 while demand for more costly shoes such as the $200 Air Jordan XVII has lagged behind projections. The company's gross margin widened to 40.3 percent of sales from 37.7 percent as Nike reduced nike elite shorts the amount of products it kept in stock to avoid cutting prices. "They are doing what they say they are going to do," said Steve Barker, an analyst at Public Employees Retirement System of Ohio, which has $50 billion in assets, including Nike shares. Fourth quarter net income climbed 28 percent to $208.4 million, or 77 cents a share, from $162.7 million, or 60 cents, a year earlier, nike jordan the company said in a statement. Sales increased 8 percent in the quarter that ended May 31 to $2.68 billion. Profit was more than the 75 cent average estimate of analysts surveyed by Thomson Financial/First Call.