Despite its North American business taking a hit from shipment delays at ports on the West Coast, Nike closed out its third quarter in good form, with revenue growing 7 percent to $7.5 billion in the three months ending February 28.
Converse is doing even better. The all-American brand, which recently dismissed a number of lawsuits it had filed against other brands for trademark infringement, saw its own revenue grow 33 percent during the quarter to $538 million, following a 24 percent rise in the second quarter. Apparently it lucked out on its shipment timing in North America, while its e-commerce business is also on the rise.
Speaking of online shopping, the third quarter was the first time that Nike's mobile traffic exceeded desktop traffic, having gotten a smartphone boost from the launch of its Snkr app. Guess releasing a sneaker app hot on the heels of Adidas's own sneaker reservation app was the right move, after all.