Nike Inc.’s quarterly income dips this time around due to heavy spending around the world cup. Nike’s income in the fourth quarter fell considerably by five percent to $332.8 million despite of the fact that it sales grew eight percent from the corresponding period last year.
The slip is mainly accountable to the squeezed margin profit due to high expenditure around world cup and the higher cost of the raw materials.
Nike officially stated that the margin has declined to 43.8 percent from 45.2 percent owing largely to high oil prices. However, the fall in the income is quite higher than the market expert were speculating.
What about the Michael Jordan effect?
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High oil prices contribute to slip in profit for Nike
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