By Jonathan Davies

Nike sales and profits were boosted by this summer's FIFA World Cup.

The US sportswear firm reported a 23% rise in profits and 15% increase in sales in the three months to August. Nike's profits for the period were $962m (£590m) with revenues of $8bn.

Fiscal year 2015 is off to a strong start," said Nike boss Mark Parker.

The World Cup in Brazil was the first time Nike sponsored for nations' kits than its German rival Adidas, which issued a profit warning shortly after the World Cup.

Sales were particularly strong in Western Europe, where Nike saw a 15% rise. Nike's brand president Trevor Edwards, said: "There is tremendous energy around the brand in Europe with innovative products that are resonating with consumers. We saw strong results from both performance footwear and apparel as well as in sportswear.

"As of the end of the quarter, we had the leading footwear market share in the nine largest football markets around the world."

Nike will be especially pleased with the news having lost their kit sponsorship of Manchester United in the summer. Manchester United announced it would not be renewing its contract with the US firm after the 2014/15 season. United was one of Nike's biggest contracts, but the club later announced that it agreed a deal with Adidas for a record £750m.

You can tweet your reactions to @freshbusiness or email

Join us on
Follow @freshbusiness