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LOS ANGELES, United States (AFP) — Bronny James, the eldest son of NBA superstar LeBron James, is among five amateur basketball players to have signed endorsement deals with Nike, the sports apparel company announced Monday. The younger James, who turned 18 last Thursday, is a guard at Sierra Canyon High School near Los Angeles while his father is the 37-year-old four-time NBA champion playmaker for the Los Angeles Lakers. Bronny James has already become part […]
NEW YORK, United States (AFP) – Nike reported lower quarterly profits Thursday on increased logistics spending and a hit from product markdowns, as it pivots in a fast-changing consumer market challenged by inflation. The sports giant topped analyst estimates for both earnings per share and revenues, but shares fell sharply as it faced questions over excess inventory in North America and signaled the strengthening dollar would dent results. Nike expects a $4 billion hit from […]
NEW YORK, United States (AFP) — Lower sales in North America and China dented Nike’s quarterly results as the sports giant on Monday projected modest revenue growth amid the strong dollar, rising inflation and other headwinds. The Oregon company — which has enjoyed strong pricing at times during the pandemic but also faced Covid-19 factory lockdowns in Asia that have crimped its inventories — reported lower profits for its fiscal fourth quarter. For the quarter […]
SAN FRANCISCO, United States (AFP) – Athletics giant Nike filed a lawsuit in New York on Thursday against shopping platform StockX for creating and marketing NFTs — the tamper-proof digital property certificates — based on the brand’s products without permission. The company’s lawyers accused US-based StockX of “minting” NFTs using Nike trademarks and trading on the brand’s “goodwill” to market them. StockX is “selling those NFTs at heavily inflated prices to unsuspecting consumers who believe […]
NEW YORK, United States (AFP) — Sporting goods giant Nike announced a new CEO on Tuesday to take over from Mark Parker, who will continue to lead the company’s board of directors. John Donahoe will replace Parker as president and chief executive officer effective January 13, Nike said in a statement. Parker, who has served as CEO since 2006, and as chairman, president, and CEO since 2016, “will become executive chairman and continue to lead […]
WASHINGTON, United States (AFP) — Adidas, Nike and PUMA on Tuesday urged US President Donald Trump to prevent the shoe industry from falling victim to the trade war with China, saying new tariffs could be “catastrophic.” In a letter to Trump, those big name manufacturers joined forces with more than 170 other American shoe manufacturers and retailers calling for footwear to be exempted from a new round of punitive tariffs on $300 billion in Chinese […]
by Luc Olinga with Chris Lefkow in Washington Agence France Presse NEW YORK, United States (AFP) — Nike was in damage control mode on Thursday after US college basketball star Zion Williamson suffered a knee injury when his shoe shredded during a marquee game attended among others by Barack Obama and Spike Lee. The Duke University forward, expected to be the top player taken in June’s NBA draft, was injured just 36 seconds into Wednesday […]
NEW YORK, United States (AFP) — In the 1980s, the “Back to the Future” film franchise suggested we would all eventually wear self-lacing sneakers. Then a few years ago, Nike made the movie magic a reality, introducing its first shoe to the public with so-called “power lacing.” And on Tuesday, the global sportswear giant took it a step farther — now your shoes will automatically loosen or tighten when you step into them, and then […]
by Emmeline Moore Agence France Presse MILAN, Italy (AFP) — US sportswear giant Nike says it is “deeply concerned” by rape allegations against star client Cristiano Ronaldo while shares in his club Juventus fell almost 10 percent on the Italian stock exchange on Friday. Ronaldo’s coach at Juventus, Massimiliano Allegri, said the striker is “doing well” and is “ready to play” when the Turin giants travel to Udinese in Serie A on Saturday. But […]
LOS ANGELES, United States (AFP) — US sporting goods giant Nike said Thursday the company was “deeply concerned” by rape allegations surrounding star client Cristiano Ronaldo. “We are deeply concerned by the disturbing allegations and will continue to closely monitor the situation,” a Nike spokesman said to AFP. Portugal and Juventus star Ronaldo, who has denied the allegations against him dating from an incident in 2009, signed a lifetime endorsement deal with Nike in 2016. […]
NEW YORK, United States (AFP) — Nike reported solid gains in both quarterly profit and revenues Tuesday but shares fell in after-hours trading on slowing growth in China. The sports apparel and sneaker giant, which has made headlines in recent weeks over an edgy ad campaign featuring Colin Kaepernick, reported a 15 percent jump in earnings for fiscal first quarter 2019 to $1.1 billion. Revenues climbed 10 percent to $9.9 billion. Nike scored revenue gains […]
NEW YORK, United States (AFP)–Nike shares surged Thursday as the company reported higher earnings, announced a new share buyback program and talked up its ambitious digital investment program that emphasizes direct selling to consumers. Nike reported earnings of $1.1 billion in its fiscal fourth quarter, up 12.8 percent from the year-ago period. Revenues also rose 12.8 percent to $9.8 billion. The company bested analyst expectations in both earnings per share and revenues. China was the […]
