(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.