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News Summary: Nike fiscal 4Q profit up 22 percent

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The Associated Press | June 27, 2013 05:51 PM EST | AP


NIKE'S FOURTH-QUARTER RESULTS: Nike Inc. earned $668 million, or 76 cents per share, for the quarter ended May 31. That compares with $549 million, or 60 cents per share, in the year-ago period. Revenue increased 7 percent to $6.7 billion from $6.24 billion.

WHAT'S BEHIND THE QUARTER: Nike's strong results in North America offset weakness in Western Europe and China.

GOOD SIGNS: The company said that by the end of the fourth quarter, worldwide future orders for Nike branded athletic footwear and clothing, set for delivery from June through November of this year, totaled $12.1 billion. That's 8 percent higher than orders reported for the same period a year ago.