Nike Profit Up as Future Orders Stay Strong
Author: Joan E. Solsman</br></br>Nike Inc.'s fiscal second-quarter earnings rose a better-than-expected 22%, as the athletic-shoe maker continues to see strong interest in future orders.</br></br>But shares were down 4%, at $88.62 after hours, retreating from the stock's highest level ever, which it hit during the regular session Tuesday.</br></br>Worldwide future orders, an indicator of growth based on estimates of product orders, were up 11%--accelerating a little sequentially from the 10% climb in prior quarter--at $7.7 billion.</br></br>Chief Executive Mark Parker said the company posted growth in almost every brand, category and geography during the most recent period.