Sports apparel giant Nike posted a 26% surge in third-quarter revenue to $3.2 billion from Europe, the Middle East, and Africa (EMEA) region, compared to $2.8 billion for the same period a year ago, the company's earnings report showed.
The Nike brand, excluding Converse and corporate revenues, posted a 14% year-on-year revenue growth to $11.8 billion in the 2023 fiscal year, added the statement.
Nike said it recorded double-digit revenue growth in EMEA, North America, Asia-Pacific, and Latin America (APLA). However, North America had the highest percentage change in the three months compared to the other regions.
The footwear section, which includes the Jordan and Converse brands, posted the highest year-on-year growth of 28% in the EMEA region, posting $2 billion in revenues from $1.6 billion in the same period last year.
In the three months, the equipment business generated $141 million in revenue growth, an 11% increase during the holiday quarter versus the year-ago period. As for apparel, Nike recorded a 1% year-on-year growth to $1.1 billion in the quarter.
Nike's revenue in the EMEA region for the nine months ended February 28, 2023, climbed 9% year-on-year to a record $9.2 billion. Footwear took the lead, with 14% growth, followed by equipment (7%) and apparel (2%), respectively.
$12.4 billion. That's how much Nike Inc. generated in revenues for the quarter, a 14% increase compared to the year-ago period.
