The policy lets overseas e-retailers sell into China without animal testing, but companies still need help entering the China market.
Nike’s North American web sales increased 23% for the second quarter of fiscal 2010 while comparable store sales grew by 9% compared with the prior-year quarter.
Nike Inc. reported North American web sales increased 23% for the second quarter of fiscal 2010 while comparable store sales grew by 9% compared with the prior-year quarter. The athletic shoes, apparel and gear brand manufacturer did not break out web sales.
Direct-to-consumer sales, including web sales, grew 14% for the quarter. “Profitability for Nike’s direct-to-consumer businesses also surged during the quarter as significantly lower promotions drove gross margin upsides versus last year,” chief financial officer Don Blair told Wall Street analysts on the company’s recent earnings call. Nike, No. 49 in the Internet Retailer Top 500 Guide (a PDF version of the company’s financial and operating profile can be ordered by clicking on its name), did not break out consumer-direct sales.
“As we move into the second half of fiscal 2010 I have to say I’m very excited about how we’re executing against our key growth opportunities,” Mark Parker, president and CEO, Nike Inc., told analysts. “I see a lot of momentum in our direct-to-consumer business where we continue to deliver positive results, especially online.”
For the second quarter ended Nov. 30, Nike reports:
- North American total sales of $1.49 billion, down about 4.4% compared with $1.56 billion in the prior-year period. The sales decline reflected a 7% sales decline in wholesale revenue, Nike says.
- Total sales were $4.40 billion, down about 4% from $4.59 billion last year. The company did not identify factors contributing to the sales decline.
- Net income was $375 million, a 4% decrease from $391 million.
- North American total sales of $3.26 billion, down about 4.7% from $3.42 billion in the prior year period.
- Total sales were $9.20 billion, an 8% decline from $10.02 billion
- Net income was $888.4 million, down by about 1.4% from $901.5 million.