Strong demand for Nike’s shoes and apparel in North America and Europe, as well as price increases in regions around the world, helped the athletic goods maker’s net income rise 38 percent in the fiscal first quarter.
Results beat expectations and the company’s shares rose 6 percent in aftermarket trading. Nike has been dealing with Europe’s fluctuating economy and a slowdown in growth in China. The company has been working to reduce its inventory in China and reworking its offerings there to adapt to the changing tastes of Chinese consumers. In a call with analysts, the company said it expects China revenue to grow in the second quarter and be roughly flat for the year as it works to turnaround results.
Bed Bath & Beyond posts strong profit
Bed Bath and Beyond Inc. reported a jump Thursday in second-quarter profit as the U.S. housing market recovery spurs demand for the home-goods chain’s products.
The home merchandise category has remained comparatively strong as many U.S. retailers struggle to cope with cautious consumer spending. Consumers have been spending more on household goods as demand for new homes soar. The stock climbed $3.32, or 4 percent, to $77.54 in Thursday’s trading.
Earlier this month, high-end home furnishing retailer Restoration Hardware Holdings Inc. reported second-quarter results that surpassed Wall Street expectations and raised its full-year earnings forecast.
McDonald’s to offer healthy options to fries
McDonald’s says it will start giving customers the choice of a salad, fruit or vegetable as a substitute for french fries in its value meals. The world’s biggest hamburger chain was set to make the announcement at the Clinton Global Initiative in New York City, where CEO Don Thompson was slated to speak.
The fast-food company also said it would use the packaging for its Happy Meals to promote healthier options. It said all advertising to kids will include a “fun nutrition or children’s well-being” message.
McDonald’s, which has more than 34,000 locations around the world, said the change will be in place in 30 to 50 percent of the areas within the next three years and 100 percent the regions by 2020.
The changes come as McDonald’s faces criticism from health advocates who say it promotes bad eating habits. McDonald’s, based in Oak Brook, Ill., is also trying to shake its fast-food image to keep up with shifting tastes. EBay to buy payments company Braintree
E-commerce giant eBay Inc. reached a deal to buy online and mobile payments technology provider Braintree for $800 million in cash.
The move comes as eBay’s PayPal unit works to evolve from its roots as an online payments provider, expanding its offline, mobile and online offerings to stores, restaurants and other business. Braintree’s payments technology is used by popular startups such as vacation rentals site Airbnb, cab-hailing app Uber and restaurant reservations site OpenTable. The company charges businesses a fee of 2.9 percent plus 30 cents per each transaction, and expects to process about $12 billion in payments this year. San Jose, Calif.-based eBay Inc. said it will operate Braintree as a separate business. 15 percent of Americans aren’t online, study says
The Internet has become so entwined in their lives that many Americans might have trouble coping without it. But a new survey found that some 15 percent of Americans — about 1 in 7 — don’t use the Internet at all. The study released this week by the Pew Research Center’s Internet and American Life Project also found that another 9 percent of U.S. adults only use the Internet when they are not at home. Adults with lower levels of income and education, as well as blacks and Hispanics, are significantly more likely to rely on Internet access outside of their home, in libraries, at work or elsewhere.
Of the people who don’t go online, only 8 percent want to. The rest said they are not interested.Olympian news services