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Nike Shares Rally on Sales Jump

Shares of Nike (NKE) jumped almost 7% Tuesday morning as the markets react positively to the footwear and apparel makers big earnings beat and jumping sales.

Reporting after the closing bell on Monday, Beaverton, Or.-based Nike said it earned $594 million, or $1.24 a share, last quarter, up 14% from $522 million, or $1.06 a share, a year earlier. Analysts had called for EPS of just $1.16.

Revenue climbed 14% to $5.8 billion, exceeding internal forecasts and the Streets view of $5.53 billion.

In fiscal year 2011, we delivered exceptional results in extraordinary times, CEO Mark Parker said in a statement. We continue to deliver compelling innovation to athletes and consumers, and strong returns for our shareholders. The global appetite for sports has never been stronger.

Nike said brand futures orders jumped 15% to $10.3 billion, or 12% excluding currency changes. Orders were even stronger in Greater China, where they surged 24%, and emerging markets, where they leaped 25%. Reported futures orders declined 13% in Japan, the only region to report a decrease.

Shares of Nike jumped 6.62% to $87.00 Tuesday morning, leaving them down 4.5% on the year.

Follow Matt Egan on Twitter @MattMEgan5