For the third quarter of fiscal 2004, ended February 29, Nike anticipates its revenue will increase more than 20 percent over the prior year.
Said Philip Knight, Nike chairman and CEO: "Nike's businesses in the US and Asia Pacific regions, combined with favourable European currency exchange rates, are resulting in very healthy revenue growth for the company.
"Consumer demand for Nike products continues to grow as our innovative product and superior brand presence are generating renewed energy in the footwear and apparel industry. We remain optimistic that the momentum we are seeing in our business is setting the stage for continued profitable growth through the remainder of fiscal 2004."
It will reveal it financial results on March 18.
Meanwhile, arch-rival adidas revealed its financial figures for the year.
In 2003, currency-neutral sales for the adidas-Salomon Group grew five percent – but it blamed a strong Euro against the US dollar as having a negative impact when the figures were viewed in Euros.
In Euro terms, sales declined four percent to reach EUR6.267bn in 2003 from EUR6.523bn in 2002.
Although the group saw strong growth in Italy, the UK and France, sales in North America dipped by six percent. Sales in Asia rose a similar amount.
The group's gross profit remained EUR2.814bn versus EUR2.819bn in 2002 despite lower sales in euro terms.
Net income increased by 14 percent to a record level of EUR260m in 2003 from EUR229m in 2002.
But adidas hopes for a boost in sales during 2004 courtesy of two major sporting events, and predicted a ten percent income growth.
Said adidas-Salomon chairman and CEO Herbert Hainer: "Despite tough market conditions due to global uncertainties and exchange rate differentials, which widened throughout the year, our financials clearly indicate that we have made major headway in the past twelve months.
"We are now concentrating all our efforts on strengthening our position in 2004. The European Football Championships in Portugal and the Summer Olympics in Athens are events which will enthuse athletes and consumers the world over. Our products and brands will be centre stage and, propelled by our new ‘Impossible is Nothing’ brand campaign, we are looking to deliver top- and bottom-line growth in 2004 and beyond."
Adidas says it is banking on a glorious summer of sport to boost its brand – while Nike is predicting a bumper profit, as the two sportswear giants reveal their latest financial positions.
