30 Mar 2017
Beavertown, Oregon — Nike, which includes polyurethane elastomer-based sole shoes within its sportswear and sports equipment portfolio, saw revenues rise 5% to $8.4 billion in the third quarter of its fiscal year 2017.
Over the three months to 28 Feb, business was driven by double-digit growth in western Europe, greater China, and the emerging markets. However, gross margin contracted 1.4% to 44.5% due largely to higher production costs and unfavourable currency moves, the company said.
Footwear sales of $5.3 billion compared to $5.0 billion in the prior-year third quarter, a 5% rise in currency-neutral terms. Over the first nine months of 2017, the company saw footwear sales of $15.6 billion compared to $14.8 billion in the same period in 2016.
Subscribe for unlimited access. A subscription to European Rubber Journal includes:
Already a subscriber? Log in here
