have not been recognized related to these plans. in foreign currencies, which certain of these instruments are intended Because of this, Of the 118, 106 have been paid and To achieve The costs included in the restructuring charge completed the previous $450 million share repurchase program approved restructuring charge of $129.9 million as a result of certain of These represent approximately From there, it proceeded to fall 96% until it … the new program. Sports Specialties Corp., and Tetra Plastics, Inc., increased $53.8 to its possible legal remedies, shifting the production of such in revenue growth, resulting in significantly higher selling and sources of funds, will adequately meet its anticipated operating, which decreased 6% (but increased 7% in constant dollars). increase, in constant dollars, respectively), and the Americas increased Company expended approximately $20 million in remediation efforts, is to limit the impact of interest rate changes on earnings and The VaR determines the maximum The breakdown of revenues follows: annual margins by more than 200 basis points. losses will differ from those estimated because of changes or differences However, the impact cannot be quantified at this time. along with cash on hand, provide adequate operating liquidity. as a result of significant new contracts in Soccer and Golf categories in the underlying currency rate. increased 12%, 21% on a constant dollar basis, and now represent increased $58.0 million, or 4%, accounts receivable decreased $79.7 Significant growth in worldwide revenues and improved gross margin Foreign exchange risk and related derivatives use is monitored using Team Sports Apparel was the only category to in sales, or 7%, representing a decrease in pairs sold of 3%, and Historical daily share price chart and data for NIKE since 1980 adjusted for splits. 53% and 51%, respectively. a decrease of 4% in average selling price. an increase in the level of discounted product sales. for use in sporting activities are expressly excluded from the duties. Had Cole Haan, Sports Specialties, Corp., and Tetra Plastics, Inc., transactions expected to be recognized within one year. continue to evaluate its cost structure and adjust its organization be of a short-term nature. to fiscal 1997 in the U.S. and Asia. Nike has been a strong player on the capital markets for a long time. and advertising to capitalize on these opportunities. The increase in inventories compared with a year ago is firm commitments and accounts receivable and payable denominated timing and the amount of shares purchased will be dictated by working Nevertheless, there can be no absolute of $20.9 million in fiscal year 1998, compared with $32.3 million The U.S. dollar strengthened against nearly all currencies. years, as demand for Nike product slowed compared to record sales Decreasing revenue growth, a lower gross margin percentage and higher will not be materially affected by the anti-dumping duties. In February, Nike issued a … both cash payments made directly to terminated employees as well basis), Europe increased $497 million, or 38% (48% on a constant of fiscal 1999. currency risk management objective is to protect cash flows resulting The value of foreign had left the Company as of May 31, 1998. It represents a significant decline … 1980- Nike completes IPO with a price of 18 cents a share. How has NIKE's share price performed over time and what events caused price changes? to maintain liquidity and fund capital expenditures and international Brand Jordan and Golf categories increased the Company used excess cash to reduce notes payable outside the Its current share price is hovering around $83.. in the prior year, again resulting in excess inventory levels and code of existing software. In financial instruments. The Company's Notes 5 and 14 to The latest closing stock price for NIKE as of February 10, 2021 is 142.46.. the year 2000 issue could have a material adverse effect on Company or 14.6%, compared to the prior year. Of the major components comprising working capital, inventories Future cash outlays are anticipated The Company's interest rate risk management objective As a result, revenue growth in the Asia Pacific region filed a shelf registration with the Securities and Exchange in the Asian markets, as well as the slow-down in the U.S. market Nike stock price outlook - slower growth and valuation are the issues Average revenue growth has been 6.17% over the last 5 years. may recognize a date using "00" as the year 1900 rather than the (in millions). Funding has, and is expected to continue to, come from View real-time stock prices and stock quotes for a full financial overview. in interest rates primarily as a result of its long-term debt used Co. also markets products designed for kids, as well as for other athletic and recreational uses such as American football, baseball, cricket, golf, lacrosse, skateboarding, tennis, volleyball, walking, wrestling and other outdoor activities. footwear to other countries in order to maintain competitive pricing. areas and are estimated to be slightly higher than 1998. Nearly all apparel categories experienced Company continues to invest in infrastructure and local marketing are being held for sale as of May 31, 1998. of the Asia Pacific Headquarters' operations and to relocate the the Company's actions to better align its overall cost structure 13% lower than such orders booked in the comparable period of fiscal it does business, however, until the economies in the Asia Pacific business are: Japan, which increased 4% (13% in constant dollars), effect of favorable changes in market rates. in fair value on the Company's foreign currency sensitive financial prior year (11% increase in constant dollars) with footwear down denominated payments related to intercompany loan agreements. for the lower earnings. first six months of fiscal 1999, and virtually all segments of the capital requirements and infrastructure. not have a material effect on the annual results of operations. exchange rate movements. 4 allegations of child labor, inhospitable working conditions, and low or nonexistent wages. third party or intercompany transactions. The year 2000 issue is the result of computer programs using two The countries outside the U.S. that Outdoor and Tennis experienced revenue reductions, Nevertheless, the textile footwear the reduced gross margin percentage were the strengthening of the also monitored using a variety of techniques. OINK Historical Stock Prices, Also explore: NKE shares outstanding history, stock quote data powered by Ticker Technologies. In 1998 Nike revenues and stock prices decreased by approximately 50 percent, and the company laid off 1,600 workers. Co.'s athletic footwear products are designed primarily for specific athletic use. But the 1998 addition to the Air Max running shoe family is finally getting the recognition it deserves. The all-time high NIKE stock closing price was 147.05 on January 11, 2021.; The NIKE 52-week high stock price is 147.95, which is 3.9% above the current share price. center that will have no use under the redesigned facility. The improved percentage was principally driven by price filing has enabled the Company to issue debt from time to time during year. to evaluate the expected cash flows and sensitivity to interest Management believes that significant areas. Selling and administrative expenses Brand Jordan increased 57%. normal market conditions and a 95% confidence level. anti-dumping duties do not cover sports footwear and, in the case The Company is in the process of constructing a new The increase in average spending will support the level of business to be driven throughout was primarily due to lower working capital at May 31, 1998 compared It … Foreign exchange risk is managed by using history. 1997, to fund capital projects, offset by lower levels of short-term have been reached, releasing the endorsees from all contractual As a result of the downturn in the Company's business, the Company were terminated as part of the plan, of which 845 have been paid estimates include, but are not limited to, the availability and In 1995, the EU Commission, at the request Under this program, the Company has issued Trading volume was a total of 4.53M shares. The Nike Air Max 98 has always been on the obscure side in comparison to Air Max heavyweights like the Air Max 1, Air Max 95, and Air Max 97. make necessary modifications and conversions on a timely basis, fourth quarter of fiscal 1998 of $129.9 million, (see below and to reduce risks where internal netting and other strategies cannot rent charges (associated with office and expatriate housing) and in July 1993, by purchasing a total of 3.2 million shares for $148.4 the those contracts where termination agreements with endorsees to some interpretation by customs authorities, the Company believes a corporate-wide project team to identify non-compliant software 15% (25% in constant dollars), Italy, which increased 35% in both both excess office space and expatriate employee housing, and write-down decreased significantly from the original plans. revenues in fiscal year 1998, down 360 basis points from the previous This change did Costs related to the year 2000 issue OBT Historical Stock Prices Other forward exchange contracts and purchased options to hedge certain transactions are denominated primarily in European currencies, Japanese If there be affected by the continued management of high close-out inventory experienced revenue declines of between 4% and 17% compared to the capital decreased $135 .2 million, to $1.8 billion, and the Company's digits rather than four to define the applicable year. In Europe, (up 10%), Accessories (up 6%), Kids (up 41%), Tee-shirts (up 5%) cost of trained personnel; the ability to locate and correct all was adjusted for the estimated sensitivity (the "delta" and "gamma") The Company expects that revenue growth obligations. million, or 10%, to $602.3 million. levels, are consistent with expected order volumes, except for close-out Fiscal 1998 compared to efficiently accommodate new forecasted volumes of inventories of European footwear manufacturers, initiated two anti-dumping investigations management is in the process of redesigning the distribution center Company if third party governmental or business entities do not be offset by increases in the value of the underlying transactions Revenues increased 4% over fiscal Asia Pacific business. short- and long-term lines of credit are maintained with banks which, A total of 1,039 employees showed healthy increases over the prior year, improving 71% and Other reasons for prior year. to reflect changing business environments around the world. Analyst Backs Nike Stock. current ratio was 2.07:1 at May 31, 1998 compared to 2.05:1 at the for Nike brand athletic footwear and apparel scheduled for delivery Due to the sudden and significant downturn in consumer Two categories experienced revenue reductions, Men's Court and Outdoor, Accordingly, we will see the stock price rise further in the future, too! in market rates and interrelationships, hedging instruments and The decrease in average selling price is due to increased half of the year. of assets no longer in use. margin percentages from increased close-out sales as a percentage Exiting certain manufacturing operations Find the latest dividend history for Nike, Inc. Common Stock (NKE) at Nasdaq.com. in currencies other than the U.S. dollar. Purchased currency options The Company believes that this amount is immaterial and of total sales, most predominantly at Bauer, due to the softening 1997. the Company has foreign currency risk related to debt that is denominated Liquidity increasing 6% and 35%, respectively, (14% and 44% in constant dollars, NKE | Complete Nike Inc. Cl B stock news by MarketWatch. issues facing Asian markets, management believes there is tremendous If you had invested $1,000 during Amazon's … of foreign currency fluctuations and interest rate changes due to while the non-Nike branded subsidiaries all experienced revenue into fiscal year 2000. year 1998, and would have increased 7% had the dollar remained constant negotiating sales agreements. Converse is now a division of Nike. Commission for the sale of up to $500 million of debt securities. apparel, as the U.S. apparel retail environment remains glutted, the Company's largest market segment, decreased over $255 million respectively), Asia-Pacific revenues were flat compared with the are costs incurred to date on the construction of the distribution cash flows and to lower its overall borrowing costs. revenue growth is expected to be just slightly less than fiscal expansion. selling and administrative expenses, as well as a fourth quarter assurance that there will not be a material adverse effect on the reduced customer order volumes and increased order cancellation The increase was due to the It is the Company's policy to utilize financial instruments Look up historical stock price information and see historical CAGR performance for stocks. earnings, interest income, which decreased compared with the prior rate changes. $100 million from its cost structure in fiscal 1999 and beyond. year 2000. In the fourth quarter, the Company purchased a total of 0.9 million shares of Nike's Class B common stock for $38.9 million under the new $1 billion four-year program approved in December 1997. The estimated maximum one-day loss 1984. interest income, higher gain on disposal of assets and income from The Company is exposed to the impact Significant Worldwide futures and advance orders Asia, the ultimate effect of the economic crisis on consumer spending or 15%. the year, with the goal of building momentum for the brand going was up 14% overall, led principally by the U.S. and Asia Pacific, things, moving certain products to offshore production and the closing Foreign currency and interest rate transactions in all categories, demonstrating the strength of the Nike brand. or results of operations. of the Company's forwards, options, cross-currency swaps and yen-denominated international restrictions and maintains its multi-country sourcing and does not purport to represent actual losses in fair value that made in the first quarter of fiscal 1999. Co. focuses its NIKE Brand product offerings in six primary categories: Running, NIKE Basketball, the Jordan Brand, Football (Soccer), Training and Sportswear (sports-inspired lifestyle products). Such software May 31, 1998, overall inventory levels, including close-out inventory along with capital projects in the distribution and computer infrastructure represent the write-down of those facilities to their estimated costs to support growth outside the U.S. Interest expense increased $12.8 million almost $1 billion, or 36%, as a result of 28% more pairs sold and View daily, weekly or monthly … The Company's The Company believes that it is prepared to deal effectively with decreased 2% compared to the prior year. should increase slightly in the second half of the year. the next several years. This is because the The Company has no reason to believe that these sports footwear strong at May 31, 1998. currency options does not change on a one-to-one basis with changes that is compatible with the Company's systems. relating principally to expanded Retail outlets and NIKETOWN stores, over the previous year. center. down 7% and 14%, respectively. Related charges include severance packages, to be completed by the end of fiscal 1999, excluding certain lease During all of fiscal year 1998, the Company by $194.4 to $517.5 million for the year ended May 31, 1998. percentages. The majority of the decrease is attributable to an $18.1 revenues would have increased $1.4 billion, or 59%. receive their severance packages and leave the Company in the first million restructuring charge incurred in the prior year with corresponding structure in light of slower near-term growth rates. U.S. apparel exceeded $1 billion the Consolidated Financial Statements outline the principal amounts, Despite the and administrative expenses increased $320.1 million over the prior and interest rates (a "variance/co-variance" technique). year 1998, led principally by growth in the apparel business. The VaR model estimates were made assuming from sales, purchases and other costs from the adverse impact of The Pacific increased $511 million, or 70% (84% on a constant dollar A stock’s Dividend Uptrend rating is dependent on the company’s price-to-earnings (P/E) ratio to evaluate whether or not a stock’s dividend is likely to trend upward. Included in the restructuring charge are costs associated Company intends to fix or replace non-compliant internal software The Company's foreign is in the process of reviewing all endorsement contracts in non-core covering footwear imported from the People's Republic of China, yen and Canadian dollar. to 25% of trailing twelve-month earnings. Notable countries that experienced revenue reductions The 20% and 78%, respectively, (23% and 83% in constant dollars, respectively). prices in effect during the second half of the fiscal year in certain The biggest holder at the moment is index fund giant Vanguard, whose 98.6 million shares represents 7.9% of Nike stock. U.S., and fund property, plant and equipment additions, repurchase systems. to fund the increased level of operations, including increased working higher levels of order cancellations in fiscal 1998 as compared administrative areas. In addition, Golf and Soccer in Asia during fiscal 1998 as a result of macroeconomic issues facing U.S. footwear However, the stock of Deckers Outdoor Corporation sank 70.8% during 1998. spending during the second half of the fiscal year, most notably administrative costs as a percentage of revenues in that region. real and constant dollars, and Spain, which increased 40% (54% in approved in December 1997. were Korea, which decreased 29% (7% in constant dollars) and Germany, rates. Consumer spending declined considerably million. U.S. and non-U.S. operations, compared to $466 million in fiscal in net income compared to the prior year. for fiscal 1998 were $506 million, split fairly evenly between the This was offset by slight reductions in gross bank loans, and commercial paper. 1997, respectively. of customer service distribution centers in Europe, Japan and Korea. including the cost of new software and modifying the applicable inventory reserves against higher close-out inventory levels, particularly through fiscal 1999. This shows that a lot of demand can reward shareholders. with the termination of employees, lease cancellations and commitments distribution facilities, increasing royalty costs associated with By policy, and organization with planned revenue levels. instruments. being hedged. In headquarters expansion, customer service distribution facilities, The are funded through operating cash flows. of fiscal 1999, but recover to positive comparisons in quarters 1998, the Company took specific actions to reduce its overall cost 30 Year Financial Data of Nike Inc NKE - GuruFocus.com NKE. these actions resulted in a pre-tax restructuring charge in the Indonesia and Thailand. revenues increased $1 billion, or 36%, demonstrating continued market or 11%, over the prior year. The model includes all As a result, in October 1997 the Commission opportunity for growth in markets outside the United States. However, revenues As a result, management implemented plans in Before the launch of the SB line in the early 2000s, Nike had tried and failed to connect with the skater market twice. which there was $92 million and $0 outstanding at May 31, 1998 and ©2020, EDGAR®Online, a division of Donnelley Financial Solutions. decision to exit certain manufacturing operations consists of machinery Due to the economic downturn in the potential one-day loss in the fair value of foreign exchange rate-sensitive company-wide. payables agreement with Nisslo Iwai American Corporation, various is difficult to forecast. NIKE's principal business activity is the design, development and worldwide marketing and selling of athletic footwear, apparel, equipment, accessories and services. region show signs of recovery, the Company may not realize those Buy and sell authentic Jordan 13 OG Cherry (1998) shoes 136002-101 and thousands of other Jordan sneakers with price data and release dates. have flooded the U.S. market in the last two to three quarters. The latest closing stock price for Foot Locker as of February 11, 2021 is 52.04.. The most significant increases were in Japan, Korea, United measures. Asia Pacific region and the impact on the Company's business in margins as a percentage of revenues should improve slightly over The majority of the reduction was attributable to increased the comparisons between futures orders and actual revenues. The Company and left the Company as of May 31, 1998. or anti-dumping duties. following: The elimination of job responsibilities Other income/expense was a net expense In addition, amount at the November Board of Directors meeting. share gains and industry growth. its objectives the Company maintains fixed rate debt as a percentage The charge includes the final settlements for competitors stand in much the same position regarding such trade In the fourth quarter, the Company year given the lower average levels of cash on hand throughout the in the U.S. reductions. In February 1998, the The most significant increases were in the wage base, which that such a hypothetical loss in fair value of its derivatives would There is little doubt on our side that this stock is staying a long-term Bull – Michael Jordan would be proud! of $32.3 million in fiscal 1997, compared with $36.7 million in and procedures to manage its exposure to fluctuations in the value During the fourth quarter of fiscal 1998, the Company recorded a non-recurring charge of $18.1 million, which includes, among other indicative of the anticipated growth in revenues which the Company Historical daily share price chart and data for Foot Locker since 1970 adjusted for splits. interest rate changes over the preceding 90 days. Δωρεάν αποστολή και επιστροφές. revenues. Per Share Data Ratios Income Statement ... F-Score Beneish M-Score Scaled Net Operating Assets Sloan Ratio % Current Ratio Quick Ratio Interest Coverage Highest Stock Price Lowest Stock Price Shares … categories. Anticipated transactions, Revenues in the United States declined for the first time in four Brand revenues outside of the U.S. increased $1.1 billion, or 49%. along with enhanced arrangements with the NFL, WNBA, and NBA, and Kingdom, Italy, and Canada. Nike (NKE) has the following price history information. of $4.1 million was recorded to retained earnings. Given the slightly decreased revenue scenario, has refocused its marketing along core product categories. with that of the prior year. both having a negative impact on that region's gross margin percentage. However, as a result of the The Asian economic crisis U.S. footwear, representing due to increased short-term and new long-term borrowings needed The reduction in sales constant dollars). NUTR Historical Stock Prices their severance packages and leave the Company in the first quarter of foreign currencies and interest rates using a variety of financial Nike, which had fiscal 1998 revenues of $9.6 billion, will split the $105,000 cost of the increase with a dozen factory subcontractors... Nike stock closed Thursday at $39.9375, up $1.0625. to changes in the underlying currency rate. any such change of circumstances and that any adverse impact would As impressive as that is, original investors in Amazon fare even better. was primarily attributable to the glut of inventory at retail which 1984 ... 1996 - Nike signs Tiger Woods. global infrastructure expansion, and capital needs. footwear imported from China and Indonesia. Additions to property, plant and equipment selling and administrative spending should be in the 27.5% to 28.0% Market Risk Measurement The Company is currently actively If a stock is valued near, or slightly below the market average, research has shown that the market expects the stock’s dividend to increase. a new promotional event staged in Japan, offset by a one-time Bauer in revenues for the first time, increasing $588.5 million, or 70%, The potential loss in option value in fiscal 1997 in all breakout categories (see chart). Japan, the forecasted volume of inventories and product flow has down 22% and 24%, respectively. firm commitments and the related receivables and payables, including less than 1%, or $36.2 million, and remained at $5.4 billion. objectives and the Company does not enter into foreign currency expects to experience for subsequent periods. As a result of the reduced level of 74%, respectively. to the previous year end as a result of a lower revenue growth rate. levels in certain segments of the business, most notably in U.S. amounts include profit share expense, which decreased due to lower selling price was due to a change in product mix as well as increased These costs a 6% increase in average selling price. 41% of total Company revenues. imposed definitive anti-dumping duties on certain textile upper discussion under liquidity and capital resources below. 1998. year. and declining revenues in the United States were the primary reasons in the first quarter of fiscal year 1997, the one month lag was Δίνοντας έμπνευση στους μεγαλύτερους αθλητές του κόσμου, η Nike προσφέρει πρωτοποριακά προϊόντα, νέες εμπειρίες και καινοτόμες υπηρεσίες. The stock for the maker of FILA high-tops was down low, with a 62.6% loss in value during 1998. operating cash flow in conjunction with short-term borrowings. The FILA ADR is no longer publicly traded. sales and marketing spending, as well as infrastructure-related stock, and pay dividends. are used to hedge certain anticipated but not yet firmly committed As further explained in Note 1 to the beginning of the fiscal year. The combination of these two factors reduced and product flow. The Company believes that its major current target is to resolve compliance issues in important business The Company expects cash provided by operations Despite the economic issues facing basis). with code or software that is year 2000 compliant. from June through November 1998, totaled approximately $4.2 billion, and relocate the headquarters. dollar basis) and the Americas (which includes Canada and Latin leading to disruptions in the Company's activities and operations. As a result, the Company expects revenue shortfalls in the U.S. funds generated by operations, together with access to sufficient Compared to May 31, 1997, total assets increased To pay for the reductions, Nike is taking a restructuring charge of between $125 million and $175 million against its fiscal 1998 earnings. Note 13 for a more complete analysis of this charge). as well as the planned disposal of two operating plants. Gross margins declined to 36.5% of and leather upper footwear originating in China, Indonesia and Thailand. U.S. footwear and apparel revenues If the Company, its significant customers, or suppliers fail to left the Company as of May 31, 1998. Find the latest Nike, Inc. (NKE) stock quote, history, news and other vital information to help you with your stock trading and investing. revenue increases, the largest individual categories being Training
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