Nike Has Running Room

Even with orator Tiger Woods out of the game, consumers still shopped for Nike rigging in the majority not long ago finished quarter, assisting the attire hulk kick analysts" forecasts.The Beaverton, Ore.-based organisation warranted $496 million, or $1.01 per share, in the third quarter, compared with $244 million, or 50 cents per share in the third entertain of 2009 when the association suffered an after-tax noncash assign stemming from the Umbro subsidiary. emailprintreprintnewslettercommentssharedel.icio.usDigg It!yahooFacebookTwitterRedditrssforbes:http://www.forbes.com/2010/03/18/nike-athletic-apparel-markets-equities-emerging-markets.html?partner=yahoobuzzSales for the entertain finished Feb. twenty-eight jumped 7% to $4.7 billion, up from $4.4 billion in the year-ago period. Nike ( NKE - news - people ) got a clever progress from rising markets, where sales jumped 43% to $509 million. Footwear sales in rising markets jumped 53%, attire leaped 32% and apparatus had 10% expansion over the prior to year. Nike kick the estimates of analysts polled by Thomson Reuters, who likely gain of 89 cents per share on sales of $4.6 billion. On headlines of the beat, shares of Nike strike an all-time high of $75.25, prior to slipping behind to $75.04, up $4.16, or 5.9%, on the day.Citi researcher Kate McShane reiterated her buy rating on the batch after the association reported the third-quarter formula and lifted her cost aim to $80, up from $75. While she approaching the batch to traffic higher on the quarterly earnings, McShane says she will sojourn bullish on the batch by May 5, financier day and the finish of the companys mercantile year, at that point she expects government to make known "further expansion opportunities for apparel, long-term expansion targets and collateral allocation.",,2010/03/18/nike-athletic-apparel-markets-equities-emerging-markets.htmlOther jaunty attire names were churned Thursday. Sketchers USA ( SKS - news - people ) gained twenty-eight cents, or 0.8%, to $34.21, and K-Swiss ( KSWS - news - people ) ticked up 9 cents, or 0.8%, to $11.08, whilst Deckers Outdoor ( DECK - news - people ) slipped twenty-one cents, or 0.2%, to $135.53.
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