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Good mid-day everyone. Welcome to Nike's fiscal 2010 Third Quarter business call. Leading modern call is Pamela Catlett, Vp Investor Relations.
Before I turn the phone call over to Mrs. Catlett, Let me remind you that members on this call will make forward looking statements based on current expectations, And those statements are subject to certain risks and questions that could cause actual results to differ materially. These risks and questions are detailed in the reports filed with the SEC, For instance Forms 8 K, 10 K in addition to 10 Q.
Some forward looking statements concern future orders that are certainly not indicative of changes in total revenues or subsequent periods due to a mix of features and at once orders, Exchange rate changes, Order cancellations and special, Which may vary completely from quarter to quarter.
Added, It is remember this a significant portion of NIKE, Corporation.'s group, Concerning equipment; Just about all Nike Retail, NIKE playing the game of tennis, Cole Haan, Talk, Hurley and Umbro are not included in strikes numbers.
Ultimately, Competitors may discuss non GAAP financial measures. The webinar of comparable GAAP measures and quantitative reconciliations are found at NIKE's Web site.
Soon, I want to turn the call over to Pamela Catlett, Vp, Investor operations.
Say thanks. Hello all the family and Happy St. Patrick's Day. Thanks to you for joining us today to discuss NIKE'S fiscal 2010 third cheap authentic nfl jerseys free shipping quarter results. As the operator suggested, People on today's call may discuss non GAAP financial measures.
Joining us on today's call could well be NIKE, Corporation.'s president, Imprint Parker, Pursued by Charlie Denson, Ceo of the NIKE Brand, And actually you will hear from our Chief Financial Officer, Add Blair, Who will give an in depth review of our financial results, Following their prepared remarks we will take questions.
We only want to allow as many of you to ask questions as possible in our allotted time. So as basic, We would appreciate you limiting your initial inquiries to two. In the event you have additional questions that have no coverage by others, Please wholesale nfl jerseys outlet feel free to re queue and we will do our best an additional to you. Thanks to you for your cooperation on this.
With that I need to turn the call over to NIKE, Corporation. Us web design manager and CEO, Spot Parker.
Thanks much, Pam, And hello each. In your last call I said, Given what we know about industry and about ourselves, We're well positioned to leverage the power of global sports and drive hard against those growth assets that have the most impact.
Q3 shows this to be. NIKE is higher than a survivor in these tough economic times. We're able to manage up and through economic downturn to expand separation for our brands and our businesses.
We've returned to top line and in a nutshell growth in our third quarter, Both on a real and recurring dollar basis. With few conditions cheap authentic nfl jerseys free shipping we're seeing improving trends across all NIKE Brand product types, Classifications and geographies, As seen in our strong speeding of global futures orders.
Our other businesses still deliver brand heat, While building revenue and profits. And we're shipping record cash flows, Driven by clean inventory puts and the tightest supply chain we've ever had.
We're happy by the results for the quarter. Revenue escalated 7% to $4.7 thousand. Inventories are fit, Down about 13% vs last year. Gross margins were up 3 points due to hot devices, Elevated consumer experiences out there and operational excellence inside.
Throughout the NIKE Brand futures are up 9%; 6% on a foreign forex neutral basis. Converse continues to expand in virtually any dimension of the business, Lotion, Brand and crisis.
Hurley is outperforming all competing firms in their market. Umbro has delivered over 20% revenue growth year to date and is poised for an optimistic World Cup season. And NIKE Golf and Cole Haan continue to deliver innovation and manage healthy stocks and are well positioned for recovery in their industries.
It's remember how we're able to deliver this kind of quarter in this kind of environment. Now many of the reasons are conversant to you. Nowadays we have the most compelling and innovative product. We have deep and meaningful relations with consumers. We run this business with an eye toward efficiency, Options and growth.
Two things I want to cover in more depth. The foremost is apparel. This is the single biggest chance for NIKE, Corporation. We're already one of the earth's largest apparel companies, But that's nothing investing in a what's possible in this space.
Two years ago we refocused the apparel business cheap nfl jerseys free shipping with specific objectives for both the performance and sportswear sides of the market. Our performance apparel appears to have been strong and lead in innovation, Gaining business and creating growth.
For NIKE capability is the anchor of our brands. You see it in the nation's team kits we launched in London, And in the vital and replica apparel for the Vancouver Winter games. Equity category, High exercise takes the lead.
Regarding Sportswear, We see total well being being a good editor on the product level. We are aimed towards fewer, More profitable styles, And that assists us skew some crucial benefits; A clear premium task for the brand, A powerful connection to performance and ultimately a better and more profitable apparel business.
When we amplify this link to sports, We create more distinction for the brand and we offer easier and that much more attractive choices for consumers. And NIKE has the initial ability to pull that lever.
We have been working wholesale cheap nike nfl jerseys on our apparel business for serious amounts of we really began to see the impact in Q3. NIKE Brand apparel gross income grew 3% for the quarter, While gross margins expanded 160 basis points and assortments fell 8%.
We're also beginning to realize the broader benefits of becoming a better retailer. In the last few years, We've discussed expanding our direct to consumer business. We saw a huge upside to bringing innovation and excitement into the industry in our own stores, With our wholesale partners and on the internet.
To do that we dedicated to building our retail capabilities, Easier product flow, Surgical assortment planning that goals key items, More compelling marketing, Stronger brand stories and more sound back of house systems. All balanced to produce greater consumer experiences and strong profits.
It's an excellent mix that helped NIKE Brand Retail deliver 11% revenue growth and 140 basis points of gross margin expansion year to date.
We continues to invest in bringing world class solutions to consumers who are hungry for new retail experiences. Nowhere is this more essential than online. The digital lifestyle is driving dramatic change in our industry and significant possibility to our company. We are attacking that in every measurements; Buying online, Modification, Immersing our brands in consumer cultures and telling inspiring and diverting stories.
So you think that what can we learn about NIKE by looking at apparel and retail? What can we study on our surging business in China, Where Nike's product innovation and premium brand position continue to connect with the burgeoning middle-class? Why are we aggressively expanding digitally enabled sport and creating a reality generation of Nike plus technology? It all shows our ability to create innovation that can be purchased and leverage our resources and capability to deliver growth.
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