Nike Profit Jumps 25% on Shox, Converse Sales

Nike Inc., the world’s biggest athletic-shoe maker, said first-quarter earnings surged 25% as demand for Shox running shoes and Converse sneakers fueled its fastest U.S. sales gain in more than a year.

Net income beat analysts’ estimates, rising to $326.8 million, or $1.21 a share, from $261.2 million, or 98 cents, a year earlier, the Beaverton, Ore.-based company said. Sales jumped 18% to $3.56 billion, led by Asia.

Shares of Nike rose $1.44 to $78 on the New York Stock Exchange.