NEW YORK (AP) — Nike Inc., the world's largest athletic shoe and clothing company, is announcing a 22 percent increase in fourth-quarter profits as strength in North America bolstered results.
The company says it earned $668 million, or 76 cents per share, in the three-month period ended May 31. That compares with $549 million, or 60 cents per share, in the year-ago period.
Revenue increased 7 percent to $6.7 billion from $6.2 billion.
Analysts had expected 74 cents per share on revenue of $6.3 billion.
Nike, based in Beaverton, Ore., has enjoyed a resurgence in North America on the strength of its Nike brand, basketball shoes, and other products while Europe and China have been weaker.