Energy News  
TRADE WARS
Nike stays bullish on China as it reports higher profits
by Staff Writers
New York (AFP) Dec 20, 2018

Nike scored higher second-quarter profits Thursday, thanks in part to strong sales in China, where the company reported no fallout from ongoing trade tensions between Beijing and Washington.

Net income for the quarter ending November 30 was $847 million, up 10.4 percent from the year-ago period.

Revenues were $9.4 billion, up 9.6 percent.

A key driver was China, where Nike notched a 26 percent increase in revenues to $1.5 billion. That was Nike's strongest region, although sales also grew in North America and the other operating regions.

US President Donald Trump and Chinese leader Xi Jinping agreed on December to hold off on further tariffs or retaliation at least until March 1. But relations between the two countries remain brittle and many analysts are skeptical the two sides will reach a comprehensive deal by that date.

Nike has pushed ahead with new marketing programs in China, as with the Shanghai Marathon last month, said Chief Financial Officer Andy Campion.

"While there has been uncertainty in US-China relations, we have not seen any impact on our business," Campion said.

"We are bullish about our ability to continue to deliver strong and sustainable growth in this important market."

The sports apparel and footwear giant reported higher costs, in part tied to new direct-to-consumer e-commerce ventures. But the company benefited from increased profit margins from goods sold directly to consumers.

Results topped analyst expectations in both earnings per share and revenues.

Shares shot up 7.2 percent to $72.36 in after-hours trading.

jmb/ska

NIKE


Related Links
Global Trade News


Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor
$5 Billed Once


credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly


paypal only


TRADE WARS
FedEx shares dive on weak China, Europe outlook
New York (AFP) Dec 19, 2018
Shares of FedEx plunged more than 10 percent on Wednesday after the delivery company slashed its profit forecast, citing numerous trouble spots in the global economy. Executives listed a panoply of vulnerable markets: China, which has been hit by its trade fight with the United States; Britain, which has slowed sharply since July amid the Brexit morass; and other weak links in Europe, including Italy, France and Belgium - the latter two both slowed by "yellow vest protests." FedEx trimmed its p ... read more

Comment using your Disqus, Facebook, Google or Twitter login.



Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

TRADE WARS
Making the world hotter: India's expected AC explosion

EU court backs Dyson on vacuum cleaner energy tests

Mining bitcoin uses more energy than Denmark: study

Spain's Ibedrola sells hydro, gas-powered assets in U.K. for $929M

TRADE WARS
Flexible thermoelectric generator module: A silver bullet to fix waste energy issues

Dutch storage battery maker considering plant in Poland

Switching to a home battery won't help save the world from climate change

Argonne scientists maximize the effectiveness of platinum in fuel cells

TRADE WARS
Upwind wind plants can reduce flow to downwind neighbors

More than air: Researchers fine-tune wind farm simulation

Widespread decrease in wind energy resources found over the Northern Hemisphere

Wind power vulnerable to climate change in India

TRADE WARS
SunShare Selected by Xcel Energy to Build Six New Community Solar Gardens in Colorado

Sunfinity Helps Lakeside Chevrolet Shift To Solar

Photon Energy Connects 8 Solar Power Plants for 5.5 MWp in Hungary to Grid

Solar Frontier Americas Acquires Canadian Solar's 210 MWp Mustang Two Solar Project

TRADE WARS
The first new Generation 3 EPR nuclear reactor enters commercial operation

China powers up next-generation nuclear plant

Framatome develops mobile technology for non-destructive analysis of radioactive waste containers

Sweden: Framatome completes successful commissioning for upgrade project at Forsmark nuclear power plant

TRADE WARS
Obtaining polyester from plant oil

Researchers use jiggly Jell-O to make powerful new hydrogen fuel catalyst

Greener days ahead for carbon fuels

Low-cost catalyst boosts hydrogen production from water

TRADE WARS
Crude oil prices nearly flat after selloff as investors move to bonds

Indigenous Argentine group sues energy multinationals

AAA sees fuel price declines through end of year

Qatar buys stake from Eni to share in Mexico's Campeche field

TRADE WARS
Record-wet and record-dry months increased in regions worldwide

UN climate talks 'deadlocked' on key issues: top China diplomat

Fijian PM's swansong as head of troubled UN climate talks

Indian Ocean may be more disruptive to tropical climate than previously believed









The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.