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Nike's Air Jordan 1 Retro trainers
Nike is again in style in North America with a three% rise in sales in the latest quarter, propelling shares to a document excessive on Friday.
It was the primary year-on-year improve for the United States sportswear firm within the important North American division in additional than a yr.
Nike additionally acknowledged that sales progress this yr can be higher than beforehand anticipated.
"We have momentum," chief government Mark Parker stated.
Nike stated complete revenues rose 13% to $9.8bn, additionally higher than analysts had forecast.
While North America is a very powerful area for the agency and accounts for about 40% of revenues, worldwide enterprise is fuelling progress.
In the latest quarter, the most important rise in sales was in Greater China, the place income soared 25% year-on-year.
Nike has benefited from more and more intense coach followers and tendencies that favour retro types, such as its traditional high-top Jordans.
Its glossy Flyknit sneakers, distinguished by their digitally knit material cloth, have additionally gained traction.
The firm, which now sells via on-line websites such as Amazon and Tmall, additionally stated its efforts to spice up on-line sales are paying off.
Digital income grew by 41% in the latest quarter.
The outcomes after the bell on Thursday despatched shares hovering about 10% in after-hours commerce. They had been virtually 12% larger at $80.13 in morning trading in New York on Friday.
"The Nike story is officially back at this point," stated Barclays analyst Matthew McClintock.
Profits within the quarter rose 13% to $1.1bn helped by current modifications to the United States tax code that minimize its tax fee by greater than half to six.4%.
The as soon as ubiquitous Converse, nevertheless, has fallen out of style, with sales sinking eight% in the latest quarter.