Reuters: Global Markets: Nike posts higher profit, sees strong demand

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Nike posts higher profit, sees strong demand Mar 22nd 2012, 20:50 Tweet Share this Email Print Related News REFILE-Nike posts higher profit, sees strong demand 4:48pm EDT Analysis & Opinion Apple needs good, not just better, supply chain U.S. stock bubble is in profit, not value metrics Related Topics Hot Stocks » Asian Markets » Nike running shoes are seen in Los Angeles, California March 20, 2012. Credit: Reuters/Lucy Nicholson Thu Mar 22, 2012 4:50pm EDT (Reuters) - Nike Inc (NKE.N) posted higher quarterly profit as the giant sporstwear retailer heads into the spring season with strong demand. The Beaverton, Oregon-based company earned $560 million, or $1.20 a share for the third quarter ended February 29, compared with $523 million, or $1.08 a share last year. Revenue rose 15 percent to $5.8 billion. Worldwide futures orders for the Nike brand, a closely-watched measure of demand in coming months, were up 15 percent to total $9.4 billion. Shares of the company closed at $110.99 Thursday on the New York Stock Exchange. (Nivedita Bhattacharjee in Chicago; Editing by Bernard Orr) Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints Comments (0) This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

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