Not that anyone was all that surprised, but Nike announced their Q3 numbers yesterday (March 22, 2012) and it appears they are owning even more of the world, according to a story on Forbes.
Nike posted third quarter net income of $560 million, up 7% from a year ago. Diluted EPS hit $1.20, three pennies ahead of Wall Street’s consensus forecast. . . The company grew revenue 15% to $5.8 billion, as demand for its footwear, apparel, and equipment products remained resilient to a weak global economy.
According to a story on the Portland Business Journal, Converse sales did even better (Target?):
Year to date, Converse sales are up 17 percent to $1 billion, Blair said.“On a wholesale equivalent basis, Converse is already a $2.5B global brand with incredible untapped opportunities for growth,” he said.
And as the story pointed out, Nike bought Converse for only $305 million in 2003. So long skate shoe market. Seems like pretty soon the only two choices consumers will have when they go to the store will be Nike or Apple.
[Link: Forbes and Portland Business Journal]
