Nike awarded no bonus to its Chair & CEO Phil Knight in
its most recent fiscal year, "cutting" his pay 40% to
$1.68M, according to BLOOMBERG NEWS. Nike said it gave "no
annual bonuses or long-term incentive awards to company
executives" in the year ended May 31, as earnings fell 40%.
Knight and his family hold a 34% stake in Nike with 95.65
million Class B shares (BLOOMBERG NEWS, 8/15).
FINISH LINE'S IMPACT ON NIKE: The Finish Line told
analysts that it expects to earn $0.29 to $0.34 a share this
quarter, down from the $0.40 a share analysts had predicted.
In Portland, Jeff Manning reported that some analysts "view
the earnings shortfall as evidence that the crucial back-to-
school shopping period will be slow for many brands and that
a widespread recovery in the hard-hit athletic footwear and
apparel business is not in sight." Industry analyst Dana
Cohen "downgraded Nike's stock on Finish Line's
announcement," and Manning noted that if other retailers
"follow suit," then companies such as Nike and adidas "will
see their profit margins take a hit" (OREGONIAN, 8/14).
