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BUSINESS
August 28, 1998 | Reuters
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. Beaverton, Ore.-based Nike said it received a letter from the British superstore group's lawyers, saying Sainsbury Savacentre outlets have been told to take the Nike "Golf" polo shirts off the shelves. Sainsbury was not commenting.
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BUSINESS
March 21, 2001 | Bloomberg News
Nike Inc., the world's biggest maker of athletic shoes, said fiscal third-quarter profit fell 33% to $97.4 million, or 35 cents a share, as sales edged up to $2.17 billion from $2.16 billion a year ago. Analysts had cut their average profit forecast to 35 cents a share from 53 cents last month after Nike said earnings would fall short of forecasts, in part because of glitches in an inventory system. The Beaverton, Ore.-based company reported its results after the markets closed.
SPORTS
January 30, 1992 | From Staff and Wire Reports
Michael Jordan has told the NBA it can no longer sell apparel bearing his image, giving Nike Inc. those rights exclusively. The unprecedented move means millions of dollars lost to the NBA. Jordan, 28, who led the Chicago Bulls to their first NBA championship last season, is among the most profitable personalities in the league. Seth Sylvan, who manages licensing for the NBA, said the league made $1.1 billion last year from the sale of licensed products, most of it Chicago Bull merchandise.
BUSINESS
July 19, 1998 | Bloomberg News
Sunglasses manufacturer Oakley Inc. said Thursday that it has added a patent-infringement claim over lens coatings to a lawsuit it filed against Nike Inc. last year. In an amended complaint in federal court in Santa Ana, Oakley contends sneaker and apparel giant Nike copied its patented Iridium lens-coating technology in Nike's sunglasses line. The coating helps cut glare and allows wearers to tailor the glasses' tint for specific purposes, according to Oakley, which is based in Foothill Ranch.
NEWS
July 24, 2001 | From Times Wire Reports
Nike Inc. is recalling about 425,000 pairs of cross-training shoes because a sharp metal strip can protrude from the shoe's heel and cause injuries, the Consumer Product Safety Commission said. Nike is recalling several models of Jordan Trunner shoes, including the Trunner, Trunner Mid, Trunner Bubble, and Trunner 2000, the CPSC said. The company received six reports of the defect on the Bubble model, which caused cuts that required stitches, and one report on the Trunner model, the CPSC said.
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
February 18, 2003 | From Bloomberg News
Athletic shoemaker Nike Inc. is under investigation by the Florida attorney general's office for allegedly fixing the retail price of shoes and clothing. Nike received a notice of a civil investigation in January "in regards to issues of pricing of products at retail," said company spokesman Vada Manager. The shoemaker denies the allegations and is "cooperating fully," Manager said.
BUSINESS
December 16, 1998 | Leslie Earnest
Oakley Inc. said Tuesday that a judge has ruled in its favor on eight pretrial motions related to the Foothill Ranch company's patent infringement lawsuit against Nike Inc. The federal court's rulings strengthen Oakley's legal positions and will limit Nike's defense at the trial, which is scheduled to begin in June, Oakley said.
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