EARNINGS
Other earnings, excluding one-time gains and charges unless noted:
* Nike Inc. said its earnings fell 51% for its fiscal second quarter to $68.9 million, or 24 cents a share, beating estimates of 22 cents as the company cut costs. Revenue dropped 15% to $1.91 billion. Nike, which relies heavily on National Basketball Assn. athletes to promote its “Swoosh” brand, said labor woes that have delayed the professional basketball season hurt demand. U.S. sales also have been hit by a shift in consumer buying away from athletic shoes.
* Carnival Corp., the world’s No. 1 overnight cruise operator, said profit jumped 42% in the fiscal fourth quarter to $220.6 million, or 37 cents a share, exceeding analyst estimates of 33 cents, as revenue climbed 39% to $728.6 million. Carnival has been building new ships as demand for cruise vacations increases.
* Costco Cos. said its profit grew 6.4% in the fiscal first quarter to $104.2 million, or 46 cents a share, a penny higher than forecasts. The warehouse store operator said revenue, including membership fees, rose 10% to $6 billion. Sales at stores open at least a year rose 7%.
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