Nike, Adidas Battling For British Soccer Teens Nike Shifts Approach To Sponsorship As NBA Evolves Sports Owners Investing In Tech Startups Players' Tribune Gets $40M In Series C Funding Montana Invests In Group Messaging Platform Nike Will Not Include Sleeves On NBA Jerseys J.C. Penney, Kohl's Going Big On Activewear Nike Makes Batch Of LeBron 14's For Early Release Recent Tennis Trend Has Opponents Dressing Alike Nike Gets Diverse For Latest Kyrie Shoe
Published November 25, 1997
CNN's Lou Dobbs reported that Nike fell yesterday 2 1/8 to 48 3/4. Dobbs added that Donaldson, Lufkin and Jenrette trimmed Nike's earning estimates, expecting international sales to fall rapidly" ("Moneyline," CNN, 11/24)....PCH Investments, owners of L.A. Gear, said that the CA-based company "will default" on a November 30 payment "on certain notes, and added that it hasn't paid cash dividends on its preferred stock." The stock closed down $0.0625 to $0.625 (WALL STREET JOURNAL, 11/25). CNBC's Terry Keenan: "Another sign ... that L.A. Gear may be in a lot of financial difficulty. The retailer of athletic footwear says that it has, quote, insufficient resources, to pay interest on some of its outstanding debt" ("Market Wrap," CNBC, 11/24).