Nike Profit Tops Estimates as North American Sales Gain
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Nike Inc., the world’s largest sporting-goods company, posted fiscal first-quarter profit that topped analysts’ estimates after demand for running and basketball shoes helped North American sales.
Net income in the quarter ended Aug. 31 rose 38 percent to $780 million from $567 million a year earlier, the Beaverton, Oregon-based company said in a statement yesterday. Earnings per share from continuing operations were 86 cents. The average of estimates compiled by Bloomberg was 78 cents.