Nike’s Profit Climbs on New Shoe, Euro Boost
From Bloomberg News
Nike Inc. said fiscal third-quarter profit rose to as much as 74 cents a share from 47 cents a year earlier, bolstered by the introduction of signature shoes of professional basketball player LeBron James and a surge in the euro.
Sales in the quarter ended Feb. 29 climbed at least 20% from $2.4 billion a year earlier, Beaverton, Ore.-based Nike said.
Shares of Nike rose $2.17 to a new high of $76.66 on the NYSE.
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