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  • NIKE SEES 20% DECREASE IN EARNINGS FOR SECOND QUARTER

              Nike yesterday reported a net income for the 2Q ended
         November 30 of $141M, or $.48/share, compared to $176.9M, or
         $.60/share a year ago.  Revenues increased 7% to $2.26B from
         $2.11B last year.  In the U.S., athletic footwear revenues
         declined 3% to $787.6M, compared to $814.9M (Nike).  
              REAX: Nike said that "a world-wide slowdown in demand
         for its footwear and apparel, especially in Asia, broke its
         three-year streak of earnings gains," driving down its
         earnings by 20% "and promising to depress revenue and
         earnings for the next two quarters," according to Bill
         Richards of the WALL STREET JOURNAL.  Analysts had projected
         that Nike would report earnings of $.55/share.  Nike also
         said that worldwide future orders, set for delivery between
         December and April, fell 1% to $4.2B world-wide.  Nike said
         the slowdown was due to a mix of order cancellations in the
         U.S. and Asia, inflated inventories and "problems" in the
         Asian markets (WALL STREET JOURNAL, 12/19).
    
    

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