March 10, 2004 |
Nike Inc. said fiscal third-quarter profit rose to as much as 74 cents a share from 47 cents a year earlier, bolstered by the introduction of signature shoes of professional basketball player LeBron James and a surge in the euro. Sales in the quarter ended Feb. 29 climbed at least 20% from $2.4 billion a year earlier, Beaverton, Ore.-based Nike said. Shares of Nike rose $2.17 to a new high of $76.66 on the NYSE.
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 11, 2001 |
Oakley Inc. sued Nike Inc., claiming it infringed a patent used in Oakley's X Metal line of sunglasses. In a suit filed in federal court in Los Angeles, Oakley claims Nike has been using Oakley's decentered noncorrective lens technology, which provides minimal prismatic distortion, in its line. The suit seeks unspecified damages and a court order barring Nike from producing and marketing the sunglasses. Representatives of Beaverton, Ore.-based Nike were not immediately available for comment.
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.
June 28, 2002 |
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.
March 28, 1997 |
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.
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.
November 25, 1993 |
Nike Inc.' two new television advertising campaigns include its first featuring basketball superstar Michael Jordan since his retirement, a company spokesman said. Most of the spots will air for the first time today, although the ad featuring Jordan is still in production and will not be seen for about two weeks, company spokesman Keith Peters said.
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.
March 16, 1998 |
The world's biggest sports-shoe maker, Nike Inc., said it would cut about 450 jobs, or 3.5%, of its U.S. work force as well as unspecified numbers abroad. The layoffs are partly attributable to the financial crisis in Asia, where demand for Nike products has dropped sharply in recent months. Spokesman Lee Weinstein said the company, also facing declining demand at home, will cut about 250 jobs at its Beaverton, Ore., headquarters and 200 in other parts of the country.