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BUSINESS
October 26, 1990 | BRUCE HOROVITZ, TIMES STAFF WRITER
Can you say "yanked?" That is what Nike did this week to one of its commercials featuring NBA basketball star David Robinson that parodies "Mr. Rogers' Neighborhood." In the TV spot for the company's Force line of basketball shoes, Robinson ties his shoes, then looks at the camera and asks: "Can you say, 'Kick some butt?' " The commercial premiered on CBS during the World Series.
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BUSINESS
January 27, 2009 | Andrea Chang
Quiksilver Inc. caught a monstrous wave Monday as Wall Street bet that the Orange County surf wear company could get snapped up by sportswear giant Nike Inc. Shares of Quiksilver jumped more than 46%. Although a deal would bolster Nike's position as the world's leading athletic brand, for Huntington Beach-based Quiksilver it would be an abrupt shift that probably would have been avoidable in a better economy, analysts said.
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BUSINESS
October 25, 1996 | Greg Johnson
GT Bicycles and Nike Inc. are joining forces. Nike will be an official sponsor of the Santa Ana-based bike manufacturer's bicycle racing teams in 1997. As part of the deal, GT's racers will be wearing Nike shoes when they pedal. GT's racing stable will include nearly 60 athletes next year, including nine mountain bike racers, 32 BMX racers and 16 freestyle performers. * Greg Johnson covers retail businesses and restaurants for The Times. He can be reached at (714) 966-5950 and at greg.
BUSINESS
March 20, 2008 | From Times Wire Services
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.
BUSINESS
August 28, 1998
* British retailer J. Sainsbury bowed to a threat of legal action from Nike Inc. by withdrawing from sale some unofficially obtained polo shirts that the giant U.S. company said are fakes.
BUSINESS
August 8, 1992 | From Staff and Wire Reports
This year's Summer Olympics may be remembered not only for demonstrations of athletic prowess, but also for the hurdles that Nike and Reebok surmounted as they peddled their sportswear from Barcelona. The footwear giants launched multimillion-dollar marketing campaigns, hoping to win the gold medal with consumers. Yet their quests for global recognition, like that of some Olympic athletes, encountered numerous challenges.
BUSINESS
September 15, 2000
* Nike Inc. said fiscal first-quarter profit rose 5% to $210.2 million, or 77 cents a share, beating analyst forecasts of 74 cents. Revenue was up 5.4% to $2.64 billion, led by big increases in sales in Asia and Latin America. Nike reported its earnings after the markets closed. Its Class B shares closed off 13 cents at $38.50 on the NYSE.
BUSINESS
October 24, 2007 | From the Associated Press
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.
BUSINESS
July 31, 2007 | From Times Staff and Wire Reports
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.
SPORTS
July 28, 2007 | Sam Farmer, Times Staff Writer
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.
SPORTS
July 26, 2007 | Sam Farmer, Times Staff Writer
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.
BUSINESS
May 25, 2007 | From Times wire services
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.
BUSINESS
May 23, 2007 | From Times Staff and Wire Reports
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.
BUSINESS
December 18, 1992 | From Times Staff and Wire Reports
Nike, Avia Settle Lawsuit: Shoemakers Nike Inc. and Avia Group International have settled a lawsuit in which the companies accused each other of patent infringement. Terms of the settlement were not announced. Avia filed the lawsuit in 1991, alleging that Nike's "Air 180" and "Air Force 180" running and basketball shoes infringed on Avia patents. Nike responded that one of its patents was infringed on by several Avia athletic shoes.
BUSINESS
July 31, 2007 | From Times Staff and Wire Reports
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.
BUSINESS
December 21, 2006 | From Bloomberg News
Nike Inc. said its fiscal second-quarter net income rose 8.1%, helped by iPod-compatible shoes and a tax gain. Earnings grew to $325.6 million, or $1.28 a share, beating analysts' estimates. Profit was $301.1 million, or $1.14, a year earlier, Nike said. Revenue grew 10% to $3.82 billion. The company boosted sales with the Nike Plus shoe that works with an iPod and signature footwear from basketball star LeBron James. A tax agreement with the Netherlands added 13 cents a share to profit.
BUSINESS
September 22, 2006 | From Bloomberg News
Nike Inc., the world's biggest athletic-shoe maker, said fiscal first-quarter profit fell 13% on stock option expenses and higher marketing costs. Its shares jumped as sales and orders rose more than analysts estimated. Net income declined to $377.2 million, or $1.47 a share, from $432.3 million, or $1.61, a year earlier. Revenue in the three months ended Aug. 31 rose 8.6% to $4.19 billion from $3.86 billion, Beaverton, Ore.-based Nike said. Its shares rose 6% in after-hours trading.
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