Nike published its financial report for the fourth quarter ended May 31, 2012, stating that its sales in the Chinese market decreased by 3.9% compared with the third quarter.
By May 31, 2012, Nike's total sales in Greater China were USD667 million, covering shoes, clothing, and accessories. This saw a decrease of 3.9% compared with its USD694 million sales in the third financial quarter.
However, the company's performance was still better than the same period of last year. The financial report showed that Nike's sales represented a year-on-year increase of 18%. For the previous three quarters, Nike's sales in the first financial quarter increased by 15% year-on-year to USD528 million; its sales in the second financial quarter increased by 35% year-on-year to USD650 million; and its sales in the third financial quarter increased by 25% year-on-year to USD694 million.
While its revenue growth slowed down, Nike Greater China's pre-tax profit growth rate also dropped in the fourth quarter. According to the report, the company's pre-tax profit in the first financial quarter increased by 4% year-on-year to USD171 million; its pre-tax profit in the second financial quarter increased by 26% to USD220 million; its pre-tax profit in the third financial quarter increased by 28% to USD273 million; and its pre-tax profit in the fourth quarter increased by 9% to USD247 million.
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