Huge rise in profits for Nike

Nike has seen its fourth-quarter profits rise 53%.

Nike has seen its fourth-quarter profits rise 53%.

The world's largest maker of sports footwear and clothing, and a major sponsor of the World Cup, made $521m (€424.1M) in the three months to the end of May.

However, the company is warning that the strong dollar and higher costs for oil, labour and shipping, will hit profits and sales in the coming year.

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