Nike’s stock approaches record high

Sales increase 4% over same quarter last year.

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The good news for Nike continues to roll in.

Most recently: Sales increased 4% over same quarter last year and the company’s stock is nearing an all-time high.

“We see tremendous opportunity ahead,” Nike chief executive Mark Parker said in a statement, specifically citing the Olympic Games and European soccer championships as important opportunities to promote athletic apparel.

Profit for the quarter increased 20 percent to $785 million, compared to $655 million for the same period last year. Orders for the next three months were 15 percent higher than at this time last year. Diluted earnings per share was up 22 percent to 90 cents a share.

Nike’s stock, which already had been bouncing along at all-time highs, rose nearly 2 percent in after-hours trading to $134.30. The stock hit $134.33 on Nov. 27. A 2-for-1 stock split announced in November takes effect Thursday.


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