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Nike's marketing costs soar on World Cup | Nike's marketing costs soar on World Cup |
(35 minutes later) | |
Heavy spending on marketing weighed on Nike's performance in its fourth quarter which ended 31 May. | Heavy spending on marketing weighed on Nike's performance in its fourth quarter which ended 31 May. |
Spending on marketing soared 36% to $876m (£514m) as Nike boosted promotion ahead of the 2014 Fifa World Cup. | |
That curbed profits which rose 1% to $698m, compared to the same quarter in 2013. | |
Between March and May Nike launched a number of new shoes including the Mercurial Superfly, worn by Portugal's Cristiano Ronaldo. | Between March and May Nike launched a number of new shoes including the Mercurial Superfly, worn by Portugal's Cristiano Ronaldo. |
On Thursday, Portugal became one of the latest teams to be knocked out of the World Cup finals. | On Thursday, Portugal became one of the latest teams to be knocked out of the World Cup finals. |
The outlook appears to be bright for Nike as it said orders for its footwear and sports kit for June to November are $13.3bn - 11% higher than the same period last year. | The outlook appears to be bright for Nike as it said orders for its footwear and sports kit for June to November are $13.3bn - 11% higher than the same period last year. |
Nike sales rose 11% in the fourth quarter to $7.4bn. | |
Nike vs Adidas | |
For the first time Nike is sponsoring more national teams in the World Cup than rival Adidas. | |
The German firm has a sponsorship deal with Luis Suarez who has been suspended from all football-related activity for four months for biting Italy defender Giorgio Chiellini. | |
In addition, the Liverpool player has been banned for nine international matches, ruling him out of the rest of the World Cup. | |
Adidas said it would not use him for any further promotion around the tournament, but has not changed any other aspects of its deal with the player. | |
"Adidas fully supports Fifa's decision. Adidas certainly does not condone Luis Suarez's recent behaviour and we will again be reminding him of the high standards we expect from our players," a spokesperson said in an emailed statement. |
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