NIKE Inc, the world's leading retailer of athletic footwear and apparel maker, said Wednesday its sales dropped in the third quarter of 2009.
Oregon-based athletic shoe and apparel maker reported a net income of $243.8 million, excluding a $240.7 million charge related to the impairment of goodwill, intangible and other assets from Umbro deal. The company net income would have risen 4 percent to $484.5 million.
Sales of revenue decreased 2 percent to $4.4 billion for the fiscal year ended February 28, 2009 and revenue from the other business jumps to $592.2 million in totaled.
In the U.S, third quarter revenues increased $1.6 billion compared to the same period last year as footwear revenues increased 8 percent to $1.2 billion, while apparel revenues decreased 9 percent to $370.4 million.
I feel very good about our performance and our potential, said Mark Parker, President and CEO of Nike, Inc, adding that it will continue to stay close to the consumer, drive innovation into the marketplace costs as it restructures its business in the light of the economic downturn.
However, the company said it has future orders of about $6.5 billion compared to 1 percent from its global future order for the same period last year.
Overseas revenue, from Asia Pacific region increase 8 percent to $806.9 million, EMEA region decreased 14 percent to $1.2 billion and Americas region decreased 5 percent to $245.4 million.
In December 2008, the company reported a 9 percent rise in second-quarter, a net income rose to $391.0 million and Revenue for the second quarter grew 6 percent to $4.6 in the same period last year.
Nike share rose on 1.12% to $45.92 in regular trading.