While athletic apparel sales soften, it seems as if there is no stopping Nike’s shoe business.
Profits at Nike rose 15 percent in the 4th quarter. Revenues climbed 7 percent to $3.7 billion in the quarter ended May 31, 2005, apparel revenues slid 7 percent in the U.S to $335.9 million.
A major contributing force continues to be perennial champion Air Jordan shoes and the Shox line.
Year to date profits ran up to 28.1 percent to $1.21 billion, or $4.48 a share, from $945.6 million or $3.51 share.
Forecasts indicate the same for the upcoming quarter as Nike unveils new running products and apparel.