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At Nike, Converse Busts Ahead

While the brand's sales growth slowed, the all-American sneaker brand took off in the third quarter.
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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.

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