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Nike revenue up 7% despite European clothing slump

Nike Inc has reported a 7% rise in revenue to $6.7bn (£4.4b) in the fourth quarter, despite a 16% clothing slump in Western Europe.

Gross margin also increased 110 basis points to 43.9% in the three months to 31 May 2013.

However, revenue from clothing in Western Europe fell by 16% to $280m (£183m) from $332m (£217m) during the period. Total Chinese revenue remained flat at $669m (£439m), while Nike clothing in Northern America rose 21% to $748m. (£490m).

The dip in clothing revenue in European markets was put down to “comparisons to strong sales” in advance of the European Football Championships last year.

The sportswear brand grew full year revenues to $25.3bn, (£16.5) up 8% year on year.

As of the end of the quarter, worldwide future orders for Nike footwear and clothing, scheduled for delivery from June through November 13, totalled $12.1b (£7.9b), 8% higher than orders reported for the same period last year.

Readers' comments (1)

  • Leslie Docherty

    Nike is killing it just now, one great shoe after another, amazing sell through and next years product is even better than this year.
    The price increase for the customer is not to severe, but when you have great product, the customer doesn't mind paying for it.

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