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Nike posts higher profit, shares rise
March 21, 2013 / 8:30 PM / 5 years ago

Nike posts higher profit, shares rise

March 21 (Reuters) - Nike Inc on Thursday posted a larger quarterly profit and said future demand for its apparel and shoes rose, sending its shares up five percent.

Orders for Nike-branded shoes and clothing scheduled for delivery from March through July 2013, known as futures orders, rose 6 percent compared to orders reported for the same period last year.

For the third quarter ended Feb. 28, the company earned $662 million, or 73 cents a share, compared with $569 million, or 61 cents a share last year.

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