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FSG’s Action Sports Practice Group provides legal services to the action sports industry. Our clients include surfers, skiers, snowboarders and skaters, as well as sponsors and leading apparel companies. Our attorneys serve in positions with industry organizations such as the Association of Surfing Professionals. We know your business and can provide full-service legal solutions to meet your organizational nee
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Tiffany Montgomery
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Top line results from Nike's Q1 earnings

Nike CEO Mark Parker.
Nike CEO Mark Parker. Shop-eat-surf file photo.
By Tiffany Montgomery
September 29, 2009 2:50 PM

Nike Inc. reported earnings for the quarter ended Aug. 31 today.

Here are the major highlights. To read a more complete report, including several comments from Nike executives about the performance of Nike's new action sports category in a conference call this afternoon, click here.

Total revenue: down 12% to $4.8 billion, or 7% in constant currency.

Net income: flat at $513 million

Future orders: down 6% to $6.2 million, or 4% in constant currency

Inventories: down 7% to $2.3 billion

Cash and short term investments: $6.3 billion, up 40% from the same period last year.

Other Businesses (Hurley, Cole Haan, Converse, Nike Golf and Umbro) revenue: Down 5% to $604 million, or down 3% in constant currency.

Other Businesses earnings before interest and taxes (EBIT): flat at $87 million

 

 

 


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