Adds particulars on outcomes, shares
Dec 18 (Reuters) – Nike Inc NKE.N beat estimates for quarterly income on Friday, helped by a leap in on-line demand for sports activities sneakers and attire as extra folks engaged in fitness-related actions through the COVID-19 pandemic.
Shares of the world’s largest sportswear maker have been up 4.5% in buying and selling after the bell. They’ve gained about 37% this yr.
The worldwide well being disaster has pushed folks to take up fitness-related actions corresponding to operating or biking, giving a a lot wanted increase to Nike and different sportswear makers after they took successful to gross sales earlier within the yr from the pandemic.
Nike mentioned income rose to $11.24 billion within the second quarter ended Nov. 30 from $10.33 billion a yr earlier, whereas analysts on common had anticipated $10.56 billion, in accordance with IBES information from Refinitiv.
The corporate reported a revenue of $1.25 billion, or 78 cents per share, up from $1.12 billion, or 70 cents per share, a yr earlier.
(Reporting by Uday Sampath in Bengaluru; Enhancing by Anil D’Silva)
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