Record year for Nike

THE world's largest athletic footwear manufacturer, Nike, said yesterday that strength in its footwear and apparel business boosted earnings by 38 per cent in the latest quarter, exceeding expectations on Wall Street and sending its stock sharply higher. Nike said net income totalled $156.4 million (£98.25 million) in its fourth quarter to May 31st. Sales rose 36 per cent to $1.92 billion from $1.41 billion.