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Nike, Inc.
info.nike.com
One Bowerman Drive
Beaverton, OR
97005
Tel: 503- 671-6453
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Traded: NYSE: NKE
(Stock Quote* or Chart*)
Ownership: Public
Entity Type: Parent
Ultimate Parent Company:
Nike, Inc.
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Sales($Mil):
9,553.1
Assets($Mil):
5,397.4
Auditor: Price- Waterhouse & Co.
Mkt Val($Mil): 11,399.1
Employees: 22,800
Date of Data: 05/98
CEO: P.H. Knight
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Primary SIC: 3021 - Rubber and plastics footwear
Industry:
Footwear
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Market Guide
Business Description:
Nike designs, developments and markets high quality footwear, apparel, equipment, and accessory products. For the three months ended 8/31/98, revenues decreased 9% to $2.50B. Net income decreased 35% to $163.8M. Revenues suffered from a decrease in footwear sold, and NIKE brand equipment. Earnings also suffered from a decrease in gross profit, and increased sports marketing expenses due to expenditures surrounding the World Cup event in France.
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Hoover's Profiles Business Description:
NIKE's rivals may yet get close enough for a good look at its trademark "Swoosh" logo. The world's #1 athletic shoe and apparel seller, Beaverton, Oregon-based NIKE has slipped somewhat, and adidas-Salomon and others are gaining ground. Still, the company holds 46% of the US athletic shoe market. Image-savvy NIKE sells its shoes through close to 20,000 stores in the US and through independent distributors, licensees, and units in 110 other countries. Subsidiaries include Cole Haan (dress and casual footwear), Sports Specialties (team hats), and Bauer (hockey equipment).
The company makes shoes for just about every sport, with basketball, cross-training, running, women's, and children's shoes leading sales. It also markets sports clothing, sports equipment (bats, balls, etc.) timepieces, and accessories, and it operates NIKETOWN stores and other retail outlets. Chairman, CEO, and co-founder Phil Knight owns about 34% of NIKE.
NIKE's fortunes have declined as teenage fashion tastes have swung toward hiking boots and demand has fallen in Asia. In addition, the company -- which relies on contract manufacturers, mostly outside the US -- has been snared in controversy. It has been criticized for overseas factory environments where some workers are described as working for a pittance in sweatshop conditions, while endorser Michael Jordan is paid millions.
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