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Demand drives up Nike in Q2
Citing strong consumer demand for its products, Nike reported a big boost in revenue and profit for the second quarter.
“Our strong second quarter results once again demonstrate NIKE is a growth company,” said Mark Parker, president and CEO of NIKE Inc. “The power of our portfolio continues to unlock growth, as we keep a laser focus on our biggest opportunities. The breadth and depth of that portfolio has helped us consistently deliver strong results –- quarter after quarter, year after year.”
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Rite Aid beats Street with Q3 earnings
Camp Hill, Penn. – Rite Aid Corp. beat Wall Street expectations with net income of $104.8 million in the third quarter of fiscal 2015, a 46% increase from $71.5 million the same period a year earlier. The improvement in net income resulted primarily from an increase in adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) and a lower last out, first in (LIFO) charge, partially offset by a higher loss on debt retirement.
