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  • NIKE REPORTS FIRST-QUARTER INCREASES DRIVEN BY GLOBAL MARKET

              Nike Inc. reported first-quarter net income of $253.1M,
         or $0.85 per share, compared to $226.1M, or $0.76 per share,
         up 12% from a year ago.  First-quarter revenues were $2.77B,
         up 21% from $2.28B last year.  The company's global footwear
         revenues were up 18%; global apparel was up 41%, while non-
         U.S. revenues increased 48%.  Nike's future orders rose 10%,
         with a 33% increase in Asia Pacific and a 38% increase in
         the Americas, compared to a 1% increase in the U.S. (Nike).
              WHAT IT MEANS: CNBC's Sue Herera reported that in a
         conference call with analysts, Nike said it "sees" overall
         revenues growth of 12-14% in FY '98, "but says that it would
         be difficult for income to track up as fast as sales,
         largely because of currency, and a likely decline in
         footwear sales in the U.S." ("Business Tonight," CNBC,
         9/18). On CNN's "Moneyline," Jan Hopkins characterized
         future orders as "very weak" ("Moneyline," CNN 9/18).   
         Nike closed yesterday on the NYSE at $54.875 a share,
         gaining $2.375 a share (WALL STREET JOURNAL, 9/19).
    
    

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