Nike Raises Revenue Targets

Nike shares jumped this week in the wake of the company's quarterly report, which showed sales in China and the US bolstering its global profits.

Nike, Inc. — the corporate parent of Nike, Cole Haan, Converse, Hurley and Umbro brands — announced an increase to its fiscal 2015 revenue target to a new range of $28-30 billion, up from its previous target of $27 billion announced in May 2010.

The company also increased its fiscal 2015 revenue target for the NIKE Brand to $24-25 billion, up from its previous target of $23 billion. The announcements were made during an investor meeting at its headquarters in Beaverton, Ore., where the following video showcasing its brands globally was shown.