Nike's Q3 earnings beat estimates as N American sales advance

New York

NIKE Inc, the world's largest sporting-goods maker, has posted a third-quarter profit that topped analysts' estimates, helped by demand for athletic footwear in North America.

Net income for the quarter ended Feb 28 rose 16 per cent to US$791 million, or 89 cents a share, from US$682 million, or 75 cents, a year earlier, the Beaverton, Oregon-based company said on Thursday in a statement. The average of 27 analysts' estimates compiled by Bloomberg was 84 cents.

Nike has been on a roll after revamping its struggling China division, and benefiting from the trend of consumers wearing fashionable athletic wear and shoes as everyday items. That's helped the company generate growth in mature markets such as North America, where sales increased 6 per cent to U…