Nike profit up 16 percent on higher demand for apparel, shoes

19/03/2015 - 21:36

(Reuters) - Nike Inc , the world's largest sportswear maker, reported a 16 percent jump in quarterly profit due to higher demand for its apparel and basketball and running shoes.

NIKE (NKE.NY)said on Thursday its net income rose to $791 million, or 89 cents per share, in the third quarter ended Feb. 28, from $682 million, or 75 cents per share, a year earlier.

Revenue increased 7 percent to $7.46 billion.

Orders for shoes and clothing scheduled for delivery from March through July 2015, a gauge of demand Nike calls "futures orders," rose 11 percent globally, excluding the impact of currency exchange rate fluctuations.

(Reporting by Ramkumar Iyer in Bengaluru; Editing by Joyjeet Das)