News Summary: Nike 3rd-quarter net income rises

AP News
Posted: Mar 21, 2013 5:44 PM

THE NEWS: Nike Inc. said its third-quarter net income rose 55 percent as strong results in North America helped offset weakness elsewhere. Revenue rose 9 percent to $6.19 billion, helped by strength in its Nike brand.

THE CONTEXT: Like most global companies, Nike has been dealing with a weak Europe and a slowdown of growth in China. In response the company has focused on its North American operations.

WHAT'S NEXT: Orders for Nike shoes and apparel to be delivered between May and July rose 6 percent globally.