Nike execs met with Wall Street analysts yesterday and
told them that the company "will no longer sponsor" the
Italian national soccer team in a deal valued at $15M per
year, according to the AP. The move "drew praise" from
analysts, who say it is "evidence Nike is serious about
cutting cost." Nike President & COO Tom Clarke added that
Nike "will return to sales growth" in FY 2000: "We're poised
to have steady improvement. I think we have to be clear:
We're not going to explode into revenue growth." Nike has
also cut its selling, general and administrative costs from
$2.8B last year to $2.4B in '99 (AP, 2/10).
NIKE ON CAMPUS: Nike started filming the first of six
ads to be produced on Duke Univ.'s campus on Monday,
according to J.P. Giglio of the Raleigh NEWS & OBSERVER.
The ads, scheduled to air during the NCAA Tournament, will
center "around 'Krzyzewskiville,' the makeshift tent-city"
where students camp out while waiting to get men's
basketball tickets. The Nike campaign will also include
representatives of Nike-sponsored schools UConn and the
Univ. of KY, as UConn basketball coach Jim Calhoun and UK
basketball coach Tubby Smith "joined" Duke coach Mike
Krzyzewski "on location." Actress and UK alum Ashley Judd
will also be featured in the spots (NEWS & OBSERVER, 2/10).
