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Nike sales in Western Europe plummet 7%

Nike said total sales in Western Europe dropped 7% to $843m (£545m) over the three months to November 30.

The sportswear giant’s clothing sales in Western Europe slid 8% to $297m (£192m) while its footwear sales dropped 3% to $499m (£323m). Earnings before interest and tax in its Western Europe markets dropped 19% to $141m (£91m) for the three months to November 30

However Nike enjoyed a strong performance in North America and emerging markets, with total net income up 22% to $457m (£296m). Total sales were up 10% to $4.8bn (£3.1bn).

Worldwide future orders scheduled for delivery from December to April were up 11% to $7.7bn (£5bn). Future orders for Western Europe were flat.

Nike president and chief executive Mark Parker said: “We had a great second quarter. Almost every brand, category and geography delivered growth. We continue to outperform the market thanks to our innovative product, compelling brands and strong marketplace management. That’s good for athletes and consumers, good for our industry, and it’s good for our shareholders. Going forward, we’re in the enviable position of having far more opportunities than challenges. I’m confident our strategies can continue to deliver sustainable, profitable growth.”

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