Strong European and Asian sales helped lift Nike profits to $152 million or 57 cents a share in the second quarter – a 19% increase on the year before.

But the figures would have been higher had it not for the sports giant’s well-publicised falling-out last year with its biggest retail partner, Foot Locker.   During the quarter, buoyant demand for the company’s latest sneaker styles saw sales revenues rise by 10% in both Europe and Asia.  This was in marked contrast to the situation at home where revenues fell by 8%, largely as a result of Foot Locker’s previously announced decision to focus on better selling, lower priced lines, below the traditional Nike market threshold.  In response to the move, Nike said it would start limiting supplies of its high-end lines to Foot Locker after February.

The results were generally well received by the markets which viewed them as evidence of the success of the company’s policy of cultivating international markets.   Quarterly revenue climbed 7.6% to $2.51 billion while worldwide futures orders for all Nike products, scheduled for delivery between December 2002 and April 2003 edged up 2.4%.

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