Nike's Earnings Rose And Share Prices Rose.

Nike rose 51 cents on Friday to $58.83, or 0.9%.

First, the world's largest sports shoe developer reported a 51% surge in profits in the first quarter due to tax revenues and sales in Europe and Asia.

Nike (NKE) closed on Thursday and said it made a profit of 569 million 700 thousand US dollars in the first quarter, or 1.12 US dollars per share, up from 377 million 200 thousand US dollars in the same period last year and 74 cents per share.

The Beaverton, which is based in Oregon, has increased sales by 11% to $4 billion 660 million in the fiscal quarter of August 31st, and the change in exchange rate is also an important reason for its sales growth.

Nike said tax revenue increased the earnings per share by 20 cents in the first quarter.

If this factor is not considered, the company's earnings per share will be 92 cents per quarter.

Analysts surveyed by Thomson Financial average expected earnings of 87 cents per share and $4 billion 580 million in revenue.

Nike opened a 52 week high of $60.99 after opening.

In the first quarter, sales in Europe increased by 16%, sales in Asia increased by 22%, and regional profits increased by at least 21%.

Chief executive Mark Parke (Mark Parker) said the company is stepping up its expansion in emerging markets such as China and India, and launches new products including T90 football shoes in Europe to boost sales.

Nike is also opening more stores, increasing sales to stores and other retailers based on shopping malls, such as its biggest customer, Foot Locker Inc..

Parke said at an analyst conference call that "there are still great opportunities for the growth of the company.

Other companies are struggling in the US market.

This is indeed an opportunity for Nike. "

Parke said Nike is expected to increase its sales to $23 billion in fiscal year 2011. The company's focus is on six sports categories, such as soccer and running.

Don Blair, chief financial officer, said at a conference call that Nike expects sales to grow by around 10% throughout the year and in the second quarter.

The opportunity for China to ship shoes and clothing from September to January increased by 12% to $5 billion 900 million, reflecting the trend of future sales.

Nike is also working with Foot Locker (FL) to open 50 House of Hoops by Foot Locker basketball stores in the next three years, and Nike seeks to expand its own retail network in order to better control the placement and sales of products.

Us orders grew by 3%, and European and Asian orders increased by 17% and 20% respectively.

"Nike's global market share is increasing and its stock price will continue to benefit from its international business," Goldman Sachs securities analyst Margaret Mager said in a recent research report.

We are still optimistic about Nike's growth opportunities.

Nike's demand for other brands including Cole Haan, Converse and Hurley increased by 12%.

Sales of Nike brand in the United States increased by 2% to $1 billion 640 million.

European sales increased to $1 billion 480 million due to T90 boots and Nike Plus running shoes matching iPod.

Nike also has strict controls on inventory to avoid product discounts and introduce more thin sneakers to meet the needs of the regional market.

The company failed to launch cheap and low-end sneakers like its rival Puma.

As Nike prepares for Beijing's Olympic Games next year, Asian sales surged to $630 million 800 thousand.

In order to expand better in the Greater China market, Nike opened a new flagship store in Beijing in August and plans to open a new one in Hongkong.

Analysts say China may overtake Japan as Nike's second largest market in fiscal year 2009.

Nike officials said at a conference call that the growth rate of same store sales in some Chinese stores was around 15%.

Its sales in China increased by 50%.

"China is still adjusting growth areas," said Lehman brothers analyst Bob Drbul in a research report.