Nike's biggest push paid off

Nike blew through earnings expectations for the first quarter of fiscal 2016, proving that it's still the top clothing retailer in the US.

On Friday the stock surged to an all-time high.

A huge chunk of its recent success can be attributed to its women's business, according to Nike president Trevor Edwards.

Revenue from the women's business grew by double digits in the first quarter compared to the same period last year, Edwards said on a recent earnings call.

"We launched the highly anticipated training shoe- the MetCon 1 - for women, which offers just a hint of what's to come in training," he said. "We continued to lead with key apparel styles such as the Dri-FIT knit bras and Nike pro tights, all of which are important drivers for this business."

Nike's Roshe and Air Max shoes were also popular among women, he said.

This massive growth follows Nike's huge advertising push in the women's sector earlier this spring with its #BetterForIt campaign.

The campaign encouraged women to challenge themselves and to continue pushing harder - a theme prevalent in competitor Under Armour's advertising campaigns.

Earlier this year, Nike projected that its women's line could potentially add $2 billion of additional sales by 2017. The company anticipates that its women's business will grow even faster than its men's business, from $5 billion at the end of this fiscal year to $7 billion by 2017, according to Bloomberg.

Many of Nike's competitors are betting on women-driven campaigns, as well. Recently, New Balance launched NB Women as its answer to the growing athleisure trend.