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DARK AS KNIGHT? NIKE PARTLY BLAMES LOCKOUT FOR ITS WOES

          Nike "laid another quarter of declining sales and
     earnings in part at the feet" of the NBA lockout, according
     to Jeff Manning of the Portland OREGONIAN, who writes that
     Nike execs "repeatedly referred to the lack of an NBA season
     as a leading factor in limp" demand for its products.  Nike
     Chair Phil Knight: "If we were a fashion company, which
     we're not, the runways of Paris and Milan would be important
     to us.  What the NBA lockout means is that we've lost one of
     our key runways."  Gruntal & Co. analyst Michael Conn, who
     "agreed" that the lockout "hit Nike hard": "They are selling
     fewer marquee basketball shoes like the Air Jordan because
     of the lockout."  Nike's revenues declined 15% to $665.9M,
     and its earnings of $68.9M, or $0.24 per share, on sales of
     $1.91B, were down from $141.1M, or $0.48 a share, on sales
     of $2.26B, in the same quarter last year.  But the earnings
     results were "higher-than-expected," as analysts "lauded"
     Nike's efforts to control costs and reduce inventory.  Dir
     of Corporate Communications Lee Weinstein said that Nike "is
     hoping for growth by the fall, but even that depends on 'a
     positive retail environment.'"  U.S. footwear future orders
     also declined 3.6% (Portland OREGONIAN, 12/18).  

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