Athletic footwear and apparel giant Nike (NYSE:NKE) posted a 15% gain in fiscal first quarter earnings late yesterday. Profits rose to $645 million, or $1.36 per share, compared to $559 million, or $1.14 per share, in last yearís first quarter. Revenue rose 18%, to $6.1 billion Both earnings and revenue results exceed analyst estimates. Nikeís gross margin declined, but by less than the company had predicted.
Also late yesterday, athletic shoe retailer Finish Line (NASDAQ:FINL) reported second quarter earnings of $20.9 million, or $0.39 per share, compared to $16.8 million, or $0.31 per share, last year. Earnings were just ahead of analyst expectations, as was revenue, which rose 10% to $331.5 million.
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