Nike is seeing sales increase in North America and China

American sporting goods brand Nike reported slightly higher revenue last quarter than the same quarter last year. Beaverton, a US-based company, has been able to turn a profit on sales in China. The domestic market of North America also generated high returns. Earlier, performance in those regions was disappointing.

The total turnover in the last three months was more than 12 billion dollars, equivalent to 11 billion euros, slightly more than in 2022. However, sales revenue in the North America and Greater China regions increased by 3 and 5 percent, respectively. . In the previous quarter, turnover in that first region was still down. The bottom line generated a profit of more than $1.1 billion, down 5 percent from a year earlier.

Nike decided late last year to cut costs totaling $2 billion, part of its operations in China and North America. As a result, nearly 1,700 people out of a total of 84,000 will lose their jobs. “It is critical that our teams return to strong growth,” Chief Financial Officer Matthew Friend said in a statement.