September 25, 2008 |
Nike Inc. said its fiscal first-quarter profit fell from a year earlier, when it benefited from a one-time tax gain. Excluding that item, profit rose in the quarter on sales growth around the globe. The Beaverton, Ore., company said its net income in the quarter that ended Aug. 31 fell to $510.5 million, or $1.03 a share, from $569.7 million, or $1.12, a year earlier. Last year's first-quarter profit included a special item that increased earnings per share by 20 cents. Without it, net income would have grown 10%. Revenue jumped 17% to $5.43 billion.
March 20, 2008 |
Nike Inc. posted a 32% rise in quarterly profit, well above expectations, on strong international demand, especially in China, sending shares up 5%. The world's largest maker of athletic footwear and apparel said a weak dollar contributed to a 16% gain in third-quarter sales, while fatter margins and lower costs boosted profit. Third-quarter net income rose to $463.8 million, or 92 cents a share, from $350.8 million, or 68 cents, a year earlier. Sales jumped to $4.54 billion from $3.9 billion.
January 9, 2008 |
It's gotta be the shoes, right? No other basketball shoe has changed the face of business, athletics and marketing as the Air Jordan has. This month, Nike releases the 23rd edition, and it is expected to be just as venerated as its predecessors. The sleek design and link to Michael Jordan's jersey number make it a touchstone in the line.
November 18, 2007 |
Nike Inc. recalled 235,000 football helmet chin straps after receiving reports of head and face injuries because the straps broke, the Consumer Product Safety Commission said. The recalled chin strap was made in China and was sold at sporting goods stores throughout the U.S. from April 2006 through last month. Nike received 18 reports of the strap breaking and injuries that included two concussions, two facial cuts that required stitches and a broken nose, the safety agency said.
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.