Beaverton, Oregon - Nike had $10.5 bn sales in its footwear division in the first half of 2018, up $225 m or 2% from the equivalent 2017 half. Across Nike, earnings before interest and tax fell by 18% from $2.4 bn in the first half of 2017 to $2 bn in the first half of 2018. Gross margin of 43% was 1.2% lower in Q2 2018 than in Q2 2017. Nike said that, although selling prices rose in Q2 2018, exchange rates and higher production costs offset these. In the 2018 quarter, selling and administration expenses rose by 10% to $2.8bn. This was partly as a result of $877 m being spent on 'demand creation expenses'.
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