Nike Inc. stock closed the past week on fire after the company revealed earnings north of US$ 30.6 billion for the past fiscal year, a 10% improvement from the previous year and a record number that surprised Wall Street.
Sales climbed in every key geography and category. Even areas that have showed weakness, such as China and mid-priced running shoes, improved.
"Fiscal 2015 was an outstanding year for Nike", said Mark Parker, President and CEO, Nike, Inc. “Our consistent growth is fueled by our connection to the consumer and our ability to deliver innovation at an unprecedented pace and scale. At no time in our history has the growth potential been greater for Nike.”
Shares were up roughly 4 percent in morning trading to $109.42.