Pursuits
Nike Profit Tops Estimates as New Products Help Sales
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Nike Inc., the world’s largest sporting-goods company, posted second-quarter profit that topped analysts’ estimates as higher-priced shoes boosted sales.
Net income in the three months through November rose 40 percent to $537 million, or 59 cents a share, from $384 million, or 42 cents, a year earlier, the Beaverton, Oregon-based company said yesterday in a statement after the market closed. Profit excluding some items was 59 cents a share. The average of 24 analysts’ estimates compiled by Bloomberg was 58 cents.