Nike 1Q Results Race Past Expectations, Shares Jump

Retail Reuters

Nike Inc reported a higher quarterly profit as the world's biggest athletic shoe and clothing maker saw soaring demand in the United States and China, its two largest markets. 

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For the first quarter, net income rose 15 percent to $645 million or $1.36 a share, compared with $559 million or $1.14 a share a year ago. 

The Beaverton, Oregon based company -- which also owns brands like Converse, Cole Haan, Umbro and Hurley -- said futures orders, a closely watched measure of demand in coming months, rose 16 percent to total $8.5 billion. 

Shares of the company closed at $84.18 Thursday on the New York Stock Exchange.

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