Nike Inc saw its fiscal second quarter revenues, for the three months ended 30 November 2009, decrease by 4% year on year, from US$4.6 billion last year to US$4.4 billion in the current year.
Second quarter net income likewise declined by 4%, from US$391 million last year to US$375 million in the current year – while diluted earnings per share decreased 5% to US$0.76.
The company has put a brave face on the conditions it has been facing, given the challenges that remain in the global economy.
"Nike is at its best when we deliver superior innovative product, connect with consumers through premium experiences and operate with discipline and efficiency. Our second quarter results are another demonstration of our strategy at work," said Mark Parker, Nike President and Chief Executive Officer.
"Our laser-sharp focus across our portfolio of brands, businesses, categories and geographies gives us the flexibility we need in this economy to gain share, lead the industry, and leverage the power of global sports."
The company reported worldwide future orders for Nike brand athletic footwear and apparel, scheduled for delivery from December 2009 through to April 2010, totalling US$7.0 billion, 4% higher than orders reported for the same period last year. However, excluding currency changes, reported orders would have decreased 1%.