Nike Profit Rises on Strong Demand

Nike Inc., the world’s top maker of athletic shoes, reported a rise in quarterly profit of nearly 60% as strong European and U.S. demand and favorable currency movements pushed sales to almost $3 billion.

The Beaverton, Ore.-based company posted profit of $200 million, or 74 cents a share, in its fiscal third quarter, compared with earnings of $125 million, or 47 cents, a year earlier. Revenue rose 21% to $2.9 billion.

From Reuters

* Barnes & Noble Inc., the world’s largest book retailer, said fourth-quarter profit rose 17% as holiday shoppers bought more video games and bestsellers, leading to the biggest sales gain in three years. Net income increased to $130 million, or $1.65 a share, from $111 million, or $1.49, a year earlier, the New York-based retailer said. Sales climbed 20% to $2.21 billion.