By Kimberly Chin

 

Nike Inc. posted a higher profit in the fiscal third quarter as the company controlled expenses and sales notched up due to its e-commerce push during the pandemic.

The Beaverton, Ore.-based company said profit was $1.45 billion for the quarter ended Feb. 28, compared with $847 million in comparable period a year earlier. Earnings were 90 cents a share, up from 53 cents a share a year earlier. Analysts were expecting earnings of 79 cents a share, per a FactSet poll.

Sales rose to $10.36 billion from $10.1 billion a year earlier. Analysts were looking for $11 billion. Nike's direct sales rose 20% to $4 billion while digital sales increased 59%.

 

Write to Kimberly Chin at kimberly.chin@wsj.com

 

(END) Dow Jones Newswires

March 18, 2021 16:37 ET (20:37 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.
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