Posted by Shirley Brady on June 29, 2011 08:30 AM
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.