NEW YORK: Nike reported a jump in quarterly earnings on Thursday as strong pricing and increased direct sales helped offset a hit from US trade tariffs.
Revenues surged 10.2% to US$10.3 billion behind double-digit increases in Greater China and other regions outside its home market.Gross profit margins rose due to higher pricing in the Converse brand and in direct sales to customers following heavy investment in smartphone applications and other technologies.
President Donald Trump last week called off an additional round of tariffs on Chinese goods that had threatened additional Nike products.
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