October 24, 2007 |
Nike Inc. will buy Britain's Umbro for $582 million as the U.S. apparel and shoemaker seeks a larger presence in the global soccer market ahead of the next World Cup. Nike, through its subsidiary Nike Vapor Ltd., agreed to pay $3.94 in cash for each Umbro share, the companies said Tuesday. Umbro, based in Cheadle, northwest England, designs and markets soccer-related apparel, footwear and equipment sold in more than 90 countries. Nike has long sought a greater presence in the soccer arena.
July 31, 2007 |
Nike Inc. has reached a $7.6-million settlement in a class-action race discrimination lawsuit filed on behalf of 400 black employees of the Chicago Niketown store, the company said. The lawsuit, filed in 2003, claimed managers at the retail store used racial slurs to refer to black workers and customers. They also said the store segregated black employees into lower-paying jobs. Beaverton, Ore.-based Nike has denied the allegations.
July 28, 2007 |
Nike just did it. And so did Reebok. Under intense pressure from animal-rights groups, Nike Inc. and Reebok International Ltd. suspended sales of Michael Vick signature shoes and apparel Friday, the latest setback for the Atlanta Falcons quarterback embroiled in a dogfighting scandal. The NFL, which has ordered Vick not to report to training camp, said it has pulled all Vick-related items from NFLShop.com.
July 26, 2007 |
Animal-rights activists are hoping to send a familiar message to Nike, urging the shoe giant to cut ties with Atlanta Falcons quarterback Michael Vick: Just do it. Calling for a "week of action" in response to the allegations of Vick's involvement in illegal dogfighting, representatives from People for the Ethical Treatment of Animals plan to picket Niketown stores next week.
May 25, 2007 |
Nike Inc. said it would resume soccer-ball production in Pakistan after reaching an agreement with a vendor that was "committed to setting new standards for workers' rights." Silver Star Group must have full-time workers who are paid hourly wages and are eligible for healthcare and other benefits, Beaverton, Ore.-based Nike said. Nike said it halted production in Pakistan in November after its previous vendor, Saga Sports, violated company policy.
May 23, 2007 |
Nike Inc. and Foot Locker Inc. said they would open as many as 50 House of Hoops stores in the U.S. in the next three years as they seek to boost flagging sales of basketball shoes. Most of the stores will be converted Foot Locker locations, the companies said. Stores are planned in Los Angeles, Las Vegas, Chicago, Houston and New York. New York-based Foot Locker and Beaverton, Ore.