耐克的跨越式增長

      耐克，這個世界上最大的運動鞋制造商公布了它遠遠超出預料的季度利潤增長。
      隨著在核心的美國市場的強勁銷售額，引起它的股票上漲高達8.5%。
      這個強勁的銷售額標志著從上個季度以來的好轉(zhuǎn)，那個時候耐克公布了它9個季度以來最緩慢的收入增長。
      至1月份要交付的訂貨比一年前增長了11%，但是由于原材料成本的上升預計將會抵消強勁的銷售額增長，耐克說它將維持其全年的利潤預測。
      截止8月31日的第1個財務季度，公司賺取了4.323億美元，或1.61美元每股，比一年前的3.268億美元，或每股1.21美元上漲了32%。
      分析家的平均預測是1.42美元每股，據(jù)路透社的評估。
      美國市場運動鞋的業(yè)務增長了11%，而美國市場總的業(yè)務增長了8%，其中包括服飾及其他商品，這幫助耐克的季度收入增長了8%，達到了39億美元。分析家預測的收入是38億美元，據(jù)路透社的評估。
      耐克已經(jīng)從傳統(tǒng)的運動鞋專賣店擴張到體育商品和通常商品的產(chǎn)品鏈，這提升了在美國的銷售，Susquehanna金融公司的分析家約翰.夏利(John Shanley)說。
      由于對其品牌服裝的需求，耐克的服裝銷售同樣反彈，同時還有邁克爾.喬丹(Michael Jordan merchandise)的產(chǎn)品的增長,這彌補了去年耐克與全國籃球協(xié)會的合同終止所帶來的損失。
       “我們享有5年以來最強勁的品牌地位，市場現(xiàn)在充滿了更多的挑戰(zhàn)，在我們的面前有著更多的購買抉擇�！痹谂c分析家的一次電話會談中耐克的主席查理.鄧森(Charlie Denson)說。
      耐克從市場對其高檔鞋,比如Shoex跑鞋的需求中受益,它最近收購了在沃爾瑪連鎖店銷售的低價鞋品牌Starter,使它得以進入更廣泛的市場。
      但是一些分析家質(zhì)疑市場對昂貴鞋的需求能否經(jīng)受經(jīng)濟的衰退，如果油價的上漲繼續(xù)捂緊消費者的消費。
      由于遭到創(chuàng)記錄的油價及卡特琳娜颶風（Hurricane Katrina）的打擊，美國的消費者信心在9月初期滑到了13年以來的最低點。
     “肯定的，購買高價的運動鞋并非是消費者的必備選擇�！痹贛cAdams Wright 的分析家杰美拉.雷迪(Jamelah Leddy)說。
      耐克面臨日益激烈的競爭，因為德國的阿迪達斯-薩拉蒙準備收購銳步國際提高在美國的地位。
      上一個季度，耐克在美國市場上尤其疲軟，總收入僅有3%的增長，運動鞋的銷售額僅為7%，所以分析家在觀望那里會上升。
      銳步的股票，曾在阿迪達斯計劃的消息公布之后暴漲，現(xiàn)在的成交價是明年估計利潤的16.3倍,比耐克的15.5倍還要高,據(jù)路透社的估計。
      這兩個競爭對手將在明年的足球世界杯期間旗鼓相當?shù)臓幎贰?BR>耐克在星期一重申了成為足球，這個被廣泛認為是世界第一大體育運動的第一品牌的誓言。
      Susquehanna 的夏利估計在世界杯的高潮期間的6個星期當中，耐克和阿迪達斯各自花費在廣告上的費用將會在1.4億歐元到1.5億歐元之間。
      耐克維持它的全年利潤增長的預測，將會有百分之十幾的中間水平的增長，而由于強勁的美國鞋類銷售額，它的收入將會有高位的個位數(shù)的增長。
      在歐洲，它的第一季度的收入增長了5%，每一個國家都公布了增長的銷售額，尤其在英倫、意大利和崛起中的市場。
     在亞洲和太平洋地區(qū)，耐克報告有13%的增長，中國是最大的推動者。美元的疲軟提升了海外的銷售額。
      耐克說截止1月份交貨的訂購總額為49億美元，包括美國市場12%的增長。
耐克的股票星期一下午在紐約股票交易所漲了4.53美元，或5.85，為82.99美元。
     （英文原文引自 翻譯：Rainpoem）

                                          Nike gets spring in step
    September 20, 2005 - 8:29AM
    
     Nike, the world s largest maker of athletic shoes, has posted a bigger-than-expected jump in quarterly profit.
     It follows strong sales in the key US market, with the result sending its shares up as much as 8.5 per cent.
     The robust sales marked a turnaround from last quarter, when Nike reported its slowest revenue rise in nine quarters.
     Orders for delivery through January were up 11 per cent from a year earlier, but Nike said it was keeping its full-year profit forecast because rising raw material costs are expected to offset the strong sales growth.
     The company earned $US432.3 million ($A567.99 million), or $US1.61 ($A2.12) per share, in the fiscal first quarter ended August 31, up 32 percent from $US326.8 million ($A429.38 million), or $US1.21 ($A1.59) per share, a year earlier.
     Analysts, on average, had expected $US1.42 ($A1.87) per share, according to Reuters Estimates.
     Quarterly revenue rose 8 per cent to $US3.9 billion ($A5.12 billion), helped by an 11 per cent gain in the US athletic footwear business and 8 per cent growth in total US sales, including apparel and other merchandise. Analysts had expected revenue of $US3.8 billion ($A4.99 billion), according to Reuters Estimates.
      Nike has expanded beyond traditional athletic shoe stores into sporting goods and general merchandise chains, which helped to boost US sales, said John Shanley, an analyst with Susquehanna Financial Group.
      Apparel sales also rebounded thanks to demand for its namesake brand as well Michael Jordan merchandise, which made up for lost business when Nike s contract with the National Basketball Association expired last year.
     "We re enjoying the strongest brand position we ve seen in over five years, and as the marketplace becomes more challenging, we see more of the buying decisions falling our way," Nike President Charlie Denson said on a conference call with analysts.
     Nike has benefited from strong demand for premium shoes like the Shox running shoe, and it recently bought the Starter brand of lower-priced shoes that are sold by Wal-Mart Stores, giving it access to a broader market.
    But some analysts questioned whether the market for pricey shoes can withstand an economic downturn if rising fuel prices continue to pinch consumer spending.
    US consumer confidence dropped to a 13-year low in early September, battered by record gasoline prices and Hurricane Katrina.
    "Certainly buying a high price athletic shoe is not necessarily a consumer staple," said Jamelah Leddy, an analyst with McAdams Wright Ragen.
    Nike faces increasingly fierce competition as Germany s Adidas-Salomon prepares to buy Reebok International in a move to boost its US position.
    Last quarter, the US market was particularly weak for Nike, showing just a three per cent overall revenue gain and a seven per cent increase in US athletic footwear sales, so analysts were eager to see improvement there.
     Reebok s shares, which surged following news of the Adidas deal, now trade at 16.3 times next year s estimated earnings, a premium to Nike s 15.5, according to Reuters Estimates.
     The two rivals are set to go head-to-head during the World Cup soccer tournament next summer.
     Nike on Monday repeated its vow to become the No. 1 brand in soccer, widely considered to be the world s biggest sport.
Susquehanna s Shanley estimated that Nike and Adidas will each spend between 140 million euro ($A230.07 million) and 150 million euro ($A246.51 million) on advertising over a six-week period during the height of the World Cup.
     Nike maintained its forecast for full-year profit growth to show a percentage increase in the mid-teens, with high-single digit revenue growth driven by strong US footwear sales.
     In Europe, where first-quarter revenue rose five per cent, the company posted higher sales in every country, but especially in Britain, Italy and emerging markets.
     In the Asia-Pacific region, Nike reported a 13 per cent sales increase, with China the biggest driver. The weak dollar boosted the value of overseas sales.
      Nike said orders for footwear and apparel for delivery through January totalled $US4.9 billion, including a 12 per cent increase in US orders.
       Shares of Nike were up $US4.53 ($A5.95), or 5.8 percent, at $US82.99 ($A109.04) on the New York Stock Exchange on Monday afternoon.