Manchester United Set To Ink $1B Nike Pact Manziel Signs Multiyear Deal With Nike Nike's Parker Talks Innovation, Competition Terms Of Penn State's Nike Deal Remain Secret U.S. Soccer Reveals World Cup Jerseys Wichita State Gets Better Nike Deal Moody's Gives WME IMG B2 Credit Rating Nike Sponsored Every Olympic Hockey Team CDI Net Income Drops 5% In '13 Nike At Center Of Latest USATF Controversy
Upcoming Conferences and Events
NIKE REPORTS FIRST-QUARTER INCREASES DRIVEN BY GLOBAL MARKET
Published September 19, 1997
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).