Nike Inc. Q2 profit dips 1 percent

BEAVERTON: Tiger Woods' situation may be worsening, but his key sponsor sees brighter sales ahead.

Nike Inc. says its second-quarter profit fell just 1 percent to $375.4 million, or 76 cents per share. Lower costs helped it withstand an 8 percent revenue decline to $4.4 billion.

But looking forward, orders for goods to be delivered in the coming season grew 4 percent - an optimistic sign for the company as it moves forward in a tough economy.

Nike's sales have sagged as consumers around the globe cut their spending but the company says it is seeing potential growth in Western Europe, China and emerging markets.

The profit beat analyst expectations of 71 cents per share.