Nike quarterly profit up on strong demand

Nike Inc, the world's largest athletic shoe company, on Monday reported a 25 percent rise in quarterly profit, beating analysts' estimates, on strong demand for high-end running and basketball shoes in the United States. The Beaverton, Oregon-based company said orders for future delivery were strong, especially in the United States, its biggest market.
Fiscal first-quarter net income increased to $326.8 million, or $1.21 per share, from $261.2 million, or 98 cents per share, a year earlier. Analysts on average were expecting $1.11 per share on revenue of $3.46 billion, according to Reuters Estimates.
Revenue rose 18 percent to $3.56 billion from $3.02 billion a year earlier, driven by double-digit gains in the United States, Europe and the Asia-Pacific region.
In the United States, revenue rose to $1.4 billion from $1.2 billion a year earlier on a 13 percent gain in footwear sales.