Pursuits
Nike Profit Tops Estimates as North American Sales Gain
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Nike Inc., the world’s largest sporting-goods maker, posted fourth-quarter profit that topped analysts’ estimates as running and basketball gear drove sales in North America.
Net income in the quarter ended May 31 rose 5.4 percent to $698 million, or 78 cents a share, from $662 million, or 73 cents, a year ago, the Beaverton, Oregon-based company said yesterday in a statement. The average of 26 analysts’ estimates compiled by Bloomberg was 75 cents.