Beavertown, Oregon — Nike, which makes polyurethane sole shoes and other sports agreement, saw revenues rise 5% to $8.4 bn in the third quarter of 2017 which ended on 28 February, the firm said.
The business was driven by double-digit growth in Western Europe, greater China, and the emerging markets. In product areas, the company said that sportswear and Jordan Brand categories were also important, the firm said. However, gross margin contracted by 1.4% to 44.5% as higher average selling prices were hit by even higher product costs, unfavourable changes in foreign exchange and the impact of higher off-price sales, the company said.
Sales for footwear in the quarter were $5.3 bn compared to $5.0 bn in the equivalent 2015 quarter, seeing a 5% rise in currency neutral terms, the company said. Over the course of the first nine months of 2017, the company saw footwear sales of $15.6 bn compared to $14.8 bn in the same period in 2016.
Geographically, North America once again dominated with sales of $980 m in the quarter followed by greater China at $381 m, Western Europe at $290 m, and emerging markets at $193 m.