P.M. BRIEFING : Nike Reports Higher Earnings
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BEAVERTON, Ore. — Nike Inc. reported earnings today of $67.2 million, or $1.77 a share, in the fiscal fourth quarter ended May 31, up from $36.4 million, or 97 cents a share, for the same period in 1989.
The company also said it had posted record fiscal-year earnings and revenues.
Nike said its earnings for the year topped $242.9 million, or $6.42 a share, up from $167 million, or $4.45 a share last year. Revenues for the year jumped to $2.23 billion from last year’s $1.71 billion, with increases in all major footwear product categories.
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