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NEW YORK, United States (AFP) — Nike shares surged in after-hours trading Thursday after it reported a jump in quarterly sales and signaled improving market conditions in North America. The US sports apparel and sneaker giant, which has been plagued in its home market recently by an inventory glut and aggressive product introductions by Adidas, Under Armour and others, highlighted improving industry conditions. “As we close (the third quarter), we now see a significant reversal […]
NEW YORK, United States (AFP) — Sportsgear maker Nike on Thursday announced the surprise departure of top executive Trevor Edwards, who was considered a potential successor to the firm’s CEO. Without making any direct connection, a Nike spokeswoman told AFP there had been “conduct inconsistent with Nike’s core values and against our code of conduct.” The spokeswoman said there were “no direct allegations of misconduct against Trevor Edwards,” who carried the title “brand president.” The […]
PARIS, France (AFP) — Apple, Bono and Queen Elizabeth II are just a few of the big names and companies revealed in the Paradise Papers leak who have reportedly shifted money across the globe to cut tax. The spotlight on the tax affairs of the rich and powerful comes after a trove of documents was released by the US-based International Consortium of Investigative Journalists (ICIJ), detailing secretive offshore deals that, while not illegal, are embarrassing […]
NEW YORK, United States (AFP) — Nike on Tuesday vowed to fix issues with its NBA jerseys after a string of high-profile incidents which have seen shirts torn to shreds. The opening weeks of the NBA campaign have seen multiple incidents of torn jerseys, creating a public relations headache for Nike in the first season of an eight-year deal as the league’s jersey supplier. Several of the league’s biggest names, including LeBron James and Draymond […]
NEW YORK, United States (AFP) — Nike reported solidly higher third-quarter earnings Tuesday, but warned a tough North American selling environment would crimp profit margins. The sports apparel and sneaker giant scored profits of $1.1 billion for the quarter ending February 28, up 20 percent from the year-ago period. Revenues came in at $8.43 billion, up five percent from the year-earlier period, but a bit below the $8.47 billion expected by analysts. Gross margins contracted […]
NEW YORK, United States (AFP) — Nike reported higher second-quarter earnings Tuesday behind increased sales in key markets, including China, and said it was making progress in cutting inventory in North America. Executives gave an upbeat outlook on China, where sales jumped 12 percent to $1.1 billion. Net income for the quarter ending November 30 rose seven percent to $842 million. Sales rose six percent to $8.2 billion. Participation in the Shanghai marathon was 38,000 […]
NEW YORK, United States (AFP) — US sporting goods giant Nike unveiled Wednesday its first shoe that ties itself, the HyperAdapt 1.0, which will go on sale at the end of 2016. Sensors at the heel level activate the lacing when a foot slips into the shoe. Two buttons on the side of the shoe can be pressed to loosen or tighten the lacing. Nike calls the feature “adaptive lacing.” Nike’s star designer Tinker Hatfield said […]
MANILA, Philippines – International sports brand Nike removed Filipino boxing champion Manny Pacquiao as an endorser due to his negative comments regarding same-sex marriage. (Eagle News Service Described by Jay Paul Carlos, Video Editing by Dexter Magno, Uploaded by MRFaith Bonalos)
The new lifetime deal inked between Lebron James and Nike is reportedly the first of its kind in the company’s history. The financial details behind the deal have yet to emerge, but ESPN reports that it is — quote — “the largest single-athlete guarantee” for Nike ever. Nike and the 11-time NBA all-star first teamed up in 2003 when Lebron was a senior in high school. Since then the two have gone through 13 different […]
Just wear it – now. Nike will begin placing ads in the Weather Channel’s mobile app starting next month. The New York Times says the ads will suggest appropriate apparel depending on local weather conditions. For example, if it’s cold and dark, an in-app ad may appear for reflective Nike clothing. It’ll send consumers to the Nike website where they can buy the suggested items. The in-app ads are part of a broader campaign that […]
