Nike shares surge premarket on N. American sales, outlook

Nike’s shares are soaring before the opening bell Friday, as the footwear and clothing company posted record fiscal fourth-quarter sales in North America and gave a better-than-anticipated full-year revenue forecast. The Beaverton, Oregon-based company’s revenue totaled $12.34 billion in the fourth quarter, easily beating the $11.06 billion that analysts polled by Zacks Investment Research predicted. In North America, Nike Inc.’s revenue soared 141% to $5.38 billion. Nike also experienced strong sales for its namesake brand, rising 88% to $11.8 billion. Revenue for the Converse brand climbed 85% to $596 million.