Nike fourth-quarter net profit fell 13%

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The American company Nike, which manufactures sportswear and footwear, following the results of the 4th financial quarter till May 31, reduced its net profit by 13% compared to the same period a year earlier to $989 million. Earnings per share in the amount of 62 cents did not reach the forecast of experts who had expected 66 cents per share. Quarterly revenue was at the level of 10.184 billion dollars. For the year, it rose by 4%. According to economists' forecasts, the growth rate was expected to 10.16 billion dollars. The largest increase in revenues was recorded in China and Hong Kong, where the figure jumped 16% while excluding exchange rate differences, its growth was 22%. At the same time, revenue decreased by 4% in the Asia-Pacific region and Latin America. At the end of the fiscal year, Nike increased its earnings by 108%. Its revenue increased by 7%.

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