Nike In Its Second Quarter

The second quarter of Nike Inc. ended November 30, 2008. Nike’s revenue grew 6 percent to $4.6 billion, compared to $4.3 billion for the same time last year. Currency exchange rates increased revenue growth by 1 percentage point for the quarter. Nike second quarter net income increased 9 percent to $391.0 million, compared to $359.4 million last year. The diluted earnings per share increased 13 percent to $0.80, versus $0.71 last year.

(Ch.1) Nike Current Status

Today Nike, Inc. reported that its first quarter revenues decreased 12 percent to $4.8 billion, compared to $5.4 billion for the same period last year. Nike exchange rates, net revenue also drop 7 percent compared to the same period last year. The net income wasn't as good compared to the prior year at $513 million and diluted earnings per share increased 1 percent to $1.04. “We delivered a good start to the fiscal year,” said Mark Parker, NIKE, Inc. President and Chief Executive Officer. “These results illustrate that the emotion of sports, combined with innovative product, strong brands and premium retail experiences can make powerful connections to consumers even in challenging times.” Nike has reported worldwide future orders for Nike brand athletic footwear and apparel. The company has scheduled for delivery from September 2009 through January 2010, totaling $6.2 billion. This is 6 percent lower than orders reported for the same period last year. That does not include currency changes, reported orders would have declined 4 percent.

Post 1 (Ch.1) - Nike

The company nike was founded on January 25, 1964 as Blue Ribbon Sports by Bill Bowerman and Philip Knight. In 1978 the company officially became Nike, Inc. The company takes its name Nike from the greek goddess of victory. In Egyption it also means strength. Nike is a major publicly traded sportswear and equipment supplier in the United States. The company headquaters is in Beaverton, Oregon. It is the leading supplier of athletic shoes, apparel, and sports equipment. In 2008 Nikes had a revenue in excess of $18.6 billion usd. Nike uses its own brand to market its products such as Nike golf, Nike pro, Air Jordon, and Converse. In addition to manufacturing sportswear and equipment, nike operates retail stores under the Niketown name.