The day after Nike reported "improved earnings and a
more optimistic long-term outlook," the company's stock
"went on a rampage Friday," closing at $61.75, up $6.75 or
12.3%, according to Jeff Manning of the Portland OREGONIAN.
The stock "actually climbed as high" as $63.50, but "fell
back" at the market's close (Portland OREGONIAN, 3/20).
Victoria Griffith of the FINANCIAL TIMES examined Nike's
efforts to fight the sneaker "industry slump," and wrote
that Europe is a "prime focus of growth," as the company is
"confident it will be able to boost sales there" by 20% in
the next five years. Nike also "expects" the Latin America
and Asian markets to "fuel growth in the long run," despite
current slow sales in those areas. Nike has "left its
former arch-rival Reebok trailing" and is "concentrating" on
adidas. Nike President Tom Clarke: "Adidas is our most
formidable competitor right now" (FINANCIAL TIMES, 3/20).
SILENT IN THE MOURNING: In Ft. Lauderdale, Ira
Winderman noted that Alonzo Mourning "opted to wear the
white version" of his Nike model for Saturday's Pacers-Heat
game and "pay the improper-uniform fine" after Nike failed
to deliver the "required black" shoe (SUN-SENTINEL, 3/21).
