BEAVERTON, Oregon: Nike, the planet's largest marketer of sportswear and footgear, saw fiscal third quarter profits sprint 8% past the same period in 2006, thanks to growth overseas.
In the quarter ended February 28, revenue rose 9% while gross margins soared 44.2%, up from an equally robust 43.6% in the year-earlier period.
Ceo Mark Parker said the company will continue to focus on its relationships with consumers via product tie-ins like Nike + iPod Sport Kit. This links Apple's iPod MP3 player to sports gear and will be available this winter in Nike's running shoe range.
The company is also developing new retail concepts that will enable it to target certain consumer groups with greater accuracy.
Data sourced from Wall Street Journal Online. additional content by WARC staff