Man City, Nike Reach $109M Kit Deal Van Wagner Sports Invests In CineSport Wiggins Talked To KU About Shoe Affiliation Puma Reports Decline In Q1 Earnings Agassi Back With Nike After Eight Years ESPN Helps Boost Disney's Q2 Income IMG Reportedly Rejected $2B Bid SMI Reports Loss Of $1.3M For Q1 Callaway Golf Sees $42M Q1 Profit Adidas' Boston Tribute T-Shirt Selling Fast
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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).