Sports retailer Nike reported a 24% increase in profit, fuelled by sales of high end shoes and clothing.

The company said net income rose to by $267m, from $698m a year earlier to $865m at the end of May this year.

Their high tech running shoes, including the Lunar and Free models, led sales, as well as an increased popularity of basketball shoes in the US market. The company’s largest market, North America, saw sales rise by 13% in the quarter.

President and chief executive Mark Parker described the past year overall as “outstanding”.

The company’s shares were up 2.3% at $107.63 last night on the NYSE.