A rejuvenation in Nike‘s basketball business has led the company to post a better than expected growth on revenue.
The sportswear giant saw a slowdown in its basketball business last year, however its quarterly revenue and profit results show a rebound in the division, leading Nike president, Trevor Edwards, to conclude “Basketball is back.”
Nike’s profits rose 7.3% in the three months to November, while revenue jumped 6.4%.
“We’re seeing incredible momentum in basketball, to be clear, basketball is back,” said Edwards on a conference call.
He continued: “Our basketball business is much healthier today than it has been at any point Read full story ›
Source: The Drum
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