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Details on Industry Insight.
Nike Inc. reported earnings for the quarter ended Aug. 31 today.
Here are the major highlights. To read a more complete report, including several comments from Nike executives about the performance of Nike's new action sports category in a conference call this afternoon, click here.
Total revenue: down 12% to $4.8 billion, or 7% in constant currency.
Net income: flat at $513 million
Future orders: down 6% to $6.2 million, or 4% in constant currency
Inventories: down 7% to $2.3 billion
Cash and short term investments: $6.3 billion, up 40% from the same period last year.
Other Businesses (Hurley, Cole Haan, Converse, Nike Golf and Umbro) revenue: Down 5% to $604 million, or down 3% in constant currency.
Other Businesses earnings before interest and taxes (EBIT): flat at $87 million