Nike’s Sales Rise 10% on Higher Spending on Sneakers and Apparel

By Anonymous

Footwear giant said efforts to sell directly to consumers have paid off

Nike Inc. posted a 10% increase in sales during the summer quarter, riding strong consumer spending in the U.S. and healthy demand outside its home market for the brand’s sneakers and athletic apparel.

Chief Executive Mark Parker said in an earnings call on Tuesday that the growth was “broad-based,” attributing the results to the company’s efforts across product categories and in several markets across the globe.