Chinese Consumers Still Spending Like Crazy On Nikes

Nike shoes

Photo: Wikimedia Commons

Shares of Nike are jumping after hours after the shoe maker reported EPS of $1.24, ahead of the $1.17 that was expected.What’s particularly interesting is the geographic breakdown of future sales growth over the next several month (ex-currency):

  • North America: +14%
  • Western Europe: +1%
  • Central and Eastern Europe: +10%
  • China: +17%
  • Japan: -6%
  • All emerging markets: +23%.

China’s revenue growth, already hot, becomes an even more impressive 24% when you don’t hold currency constant.

Anyway, this kind of growth isn’t consistent with the idea of the spendthrift Chinese consumer.

For more on what happened today, see here.

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