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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.
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BUSINESS
June 28, 2002 | Bloomberg News
Nike Inc., the world's largest athletic-shoe maker, said fiscal fourth-quarter profit rose 28% as the firm cut inventory and sold more products, including basketball shoes, at full price. Net income climbed to $208.4 million, or 77 cents a share. Sales rose 8% to $2.68 billion. Shares of Beaverton, Ore.-based Nike rose $2.34, or 4.8%, to $51.42 on the NYSE. Results were released after the close of regular U.S. trading.
BUSINESS
March 28, 1997 | Associated Press
Teen-age girls paid 20 cents an hour to make $180 Nike sneakers are worked to exhaustion and fondled by their supervisors at Vietnam factories, a labor activist said. "Supervisors humiliate women, force them to kneel, to stand in the hot sun, treating them like recruits in boot camp," said Thuyen Nguyen, founder of Vietnam Labor Watch. Beaverton, Ore.-based Nike Inc. said it suspended one plant manager for forcing women to run laps.
BUSINESS
September 25, 2008 | From Times Staff and Wire Services
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.
CALIFORNIA | LOCAL
November 14, 1995
Shoe manufacturer Nike Inc. agreed Monday to remove a billboard message in South-Central Los Angeles near USC that a national Islamic organization contended was offensive to Muslims. The billboard features a photograph of former Los Angeles Clippers basketball player John Williams with copy that reads ". . . and they call him Allah." Williams, who starred at Crenshaw High School, picked up the nickname as a youth, a Nike spokesman said.
BUSINESS
November 10, 1997 | Reuters
An audit of a Vietnamese factory producing 400,000 shoes a month for Nike Inc. indicates that unsafe conditions existed when the audit was conducted a year ago. The report by Ernst & Young found that laborers at Korean-owned Tae Kwang Vina Industrial Ltd. were exposed to carcinogens and forced to work up to 65 hours a week for only $10. The factory employs about 10,000, mostly women. The report on the November 1996 inspection was submitted to Nike in January for internal use.
BUSINESS
November 30, 2002 | Ralph Frammolino, Times Staff Writer
Nike Inc. knows who's been naughty and nice. So now that it's nearly Christmas, is it time for a little retail revenge? Some say that's exactly what the athletic shoe behemoth has in mind for its biggest customer, Foot Locker Inc. Although Nike will be releasing limited editions of Air Jordan models to Foot Locker's rivals during the holiday shopping season, it won't be sending a single pair to the New York-based retail chain.
BUSINESS
November 12, 1999 | Associated Press
Nike Inc. is offering college activists a different kind of spring break, one that would take them on an inspection tour of the sports shoe and apparel company's factories around the world. Beaverton, Ore.-based Nike is trying to improve the perception of working conditions at its contract factories. Many of the company's harshest critics have been students, who contend the factories are dangerous sweatshops that hire underage workers and pay too little.
BUSINESS
August 10, 2001 | Reuters
Nike Inc., the world's top maker of athletic shoes and apparel, cut in half the annual bonus of Chairman Philip Knight as the firm's stock price slipped and rival Reebok International Ltd. picked up market share during the last year. Knight, 63, received a $663,000 bonus for the fiscal year, compared with $1.33 million in 2000, according to a Securities and Exchange Commission filing. The bonuses of other top executives at Nike also were cut, according to the filing. Beaverton, Ore.
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