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Nike fourth quarter sales up 2% for Western Europe

Nike said that sales of clothing in its Western European markets rose 8% over the fourth quarter while footwear sales increased by 1%.

The sportswear giant said total sales in Western Europe increased 2% to $956m (£639m) for the three months to May 31, helped by the 8% rise in clothing sales to $309m (£206m). Footwear sales rose 1% to $593m (£396m). EBIT in the Western European division decreased 17% to $193m (£129m).

Overall profits jumped 53% to $522m (£349m), boosted by strong sales in China and emerging markets. Total sales grew 8% to $5.1bn (£3.4bn).

Nike said worldwide future orders scheduled for delivery from June to November were up 8% year-on-year to $8.8bn (£5.9bn). Future orders for Western Europe were down by 2%.

Mark Parker, president and chief executive officer of Nike, said: “We finished strong with a great quarter and accelerating momentum across the business. During tough economic times our goal is to deliver solid financial performance and create competitive separation in the marketplace. We did that in 2010.”

“Nike is at its best when we focus on our two core values – innovation and inspiration.” added Parker. “Going forward you can expect to see more game-changing products, more compelling experiences wherever consumers touch our brands, and a laser focus on operational and financial excellence. These are the things that allow us to accelerate first and faster than everybody else.”

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