Nike'S Sales In 2010 Rose 7.7% In The First Quarter Of 2010

When the sportswear industry was in the fourth quarter of a recession, Nike was thriving in the Chinese market and emerging markets.

After the close of the stock market on Wednesday, Nike said its sales increased by 7.7% to 5 billion 100 million dollars in the quarter, excluding the effect of exchange rate, and its sales increased by 4% compared with the same period last year.

The same period last year was $4 billion 700 million.

The sales tally coincide with analysts' expectations.

The company made a profit of 52 million 190 thousand dollars.

Earnings per share were $1.08, up from the expected $1.06.

But the news did not have a positive impact on its share price.

On the contrary, Nike's share price fell 2.2% to 70.95 dollars in the next few hours.

The company's share price has risen nearly 9.8% since the beginning of the year.

Nike also reported orders for Nike brand sports shoes and sportswear from July to November this year.

The total orders for Nike global goods amounted to US $8 billion 800 million, 7% higher than that reported in the same period last year.

Excluding the impact of exchange rate changes, orders increased by 10%.

The company has made huge gains in emerging markets.

Its sales increased by 47% to $556 million from $377 million 600 thousand in the fourth quarter.

Footwear sales increased 42% to $355 million.

Clothing grew by 70% to 162 million dollars.

Sports equipment increased by 19% to 39 million dollars.

Nike has made a lot of money in China, and its sales in China have increased by 12% to 464 million US dollars.

Footwear grew 14% to 246 million dollars, clothing 10% to 193 million dollars, and sports equipment grew 17% to 25 million dollars.

Nike's sales in North America increased by 4% to $1 billion 800 million.

Footwear increased by 1% to 1 billion 200 million dollars.

Clothing rose 13% to 447 million dollars, and sports equipment basically unchanged from last year's fourth quarter to 90 million dollars.