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 year’s first quarter. Revenue rose 18%, to $6.1 billion Both earnings and revenue results exceed analyst estimates. Nike’s gross margin declined, but by less than the company had predicted.
Also late yesterday, athletic shoe retailer Finish Line (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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