LONDON: Sportswear giant Nike will unveil a 10 per cent hike in its revenues at its third-quarter results on Tuesday, according to Wall Street analysts.
Despite the negative impact of the US dollar’s increased strength on its overseas earnings, Nike is expected to say that its third-quarter revenues rose 10 per cent to $8.2billion (£5.7billion), while profits are tipped to rise 5.7 per cent to $1.1billion compared with the same quarter last year.
The company has seen strong sales in North America, Asia and Western Europe, and its margins have continued to increase, as its website and Niketown chain of sports shops account for a growing proportion of its sales.
Nike has been working to modernise its production processes and supply chain to reduce waste and improve efficiency.
In October it partnered with design and engineering group Flex to apply new technologies to its production systems.
The firm suffered a blow earlier this month when one of its most high-profile athletes, five times tennis Grand Slam winner Maria Sharapova, announced that she had failed a drugs test during the Australian Open in January.
The sportswear manufacturer suspended its $70million contract pending the results of an investigation by tennis authorities.
Twelve months ago Nike caused controversy when it awarded a sponsorship deal to US sprinter Justin Gatlin, despite the fact that he has served two doping bans.
