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Nike reports strong revenue growth except for China

Updated: 2013-09-27 17:30

Nike Inc reported strong revenue for Nike Brand, with growth in every product type and market, except China.

Nike Inc reported financial results for its fiscal 2014, quarter ending Aug 31, 2013 with strong demand for Nike Inc brands, which propelled revenue growth.

Revenues for Nike Inc increased 8 percent to $7 billion.

Revenues for the Nike Brand were $6.5 billion, up 7 percent, with growth in every product type and countries, except China.

For the first quarter, Nike Brand revenues were higher in running, basketball, football and men's training products, offsetting a slight decline in sportswear.

Nike's other brand, Converse, has seen revenue up 16 percent to $494 million, driven by a strong performance in their largest markets including the United Kingdom, North America and China.

Nike Inc's inventories were $3.5 billion, up 6 percent from August. Nike Brand wholesale unit inventories increased 8 percent to support future demand.