Nike posts higher profit, sees strong demand

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(Global Markets) - Nike Inc (NKE.N) posted higher quarterly profit as the giant sporstwear retailer heads into the spring season with strong demand.

The Beaverton, Oregon-based company earned $560 million, or $1.20 a share for the third quarter ended February 29, compared with $523 million, or $1.08 a share last year.

Revenue rose 15 percent to $5.8 billion.

Worldwide futures orders for the Nike brand, a closely-watched measure of demand in coming months, were up 15 percent to total $9.4 billion.

Shares of the company closed at $110.99 Thursday on the New York Stock Exchange.

(Nivedita Bhattacharjee in Chicago; Editing by Bernard Orr)