LOS ANGELES (Reuters) - Nike Inc. (NKE.N) said on Wednesday that quarterly profit jumped 10 percent, topping Wall Street estimates on strong U.S. demand for its footwear and robust growth overseas, sending shares up over 3 percent in after-hours trade.
"We're making some bolder, more aggressive moves with the overall portfolio than you've seen in recent years," Chief Executive Mark Parker told analysts in a conference call. "It's not just about performance now, it's about potential as well."
Nike, which recently sold its Starter apparel brand, is searching for a buyer for its Nike Bauer Hockey division and plans to acquire British soccer brand Umbro Plc (UMB.L). But Parker said he saw no further asset sales nor acquisitions in the near term.
The world's largest athletic footwear and apparel maker said net profit rose to $359.4 million, or 71 cents per share, for the second quarter ended November 30, from $325.6 million, or 64 cents per share, a year earlier. Sales increased 14 percent to $4.34 billion.Do you have any comments about this?
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