Golf Sales Cut Into Dick's Profits Rory, Tiger Promote New Nike Irons On "Tonight Show" ClubCorp Acquires Sequoia Golf For $265M Arizona Unveils New Nike Hoops Uniforms Aldridge Finds Endorsements Despite Small Market Disney Posts Record Q3 Despite ESPN Nike Bothered By FSU Coach's Son Wearing Rival's Gear CDI Earns Record Quarterly Revenue Adidas Cuts FY '14 Outlook, FY '15 Targets A-B Credits World Cup For Helping Q2 Profits
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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).