NIKE
Nike delivers earnings beat, announces stock buyback
Nike reported quarterly earnings that beat analysts' expectations and announced a stock buyback.
Net income increased 7 percent to USD560 million from USD523m a year ago.
Revenue rose 14 percent to USD5.8 billion from USD5.08b.
Nike raises factory labour and sustainability standards
Nike, the world's largest sporting-goods maker, is putting its contract manufacturers on notice: adhere to new labour and sustainability standards or risk losing Nike's business.
The US maker of Air Jordan sneakers is giving more importance to worker benefits and safety in its grading system for factories, the company said in a statement.
Nike, which makes more than 90 percent of its shoes in Vietnam, China and Indonesia, wants all factories it uses to meet the increased standards by 2020.
Is Apple facing its "Nike moment" in China?
As Apple, the world's most valuable listed company, braces itself for a report into alleged poor working conditions among its army of low-cost suppliers in China, it could heed the lessons from another big-brand retailer that faced similar issues two decades ago.
"Apple is facing its 'Nike moment'," said Teresa Cheng, international campaign coordinator for United Students Against Sweatshops, referring to accusations in the 1990s that suppliers to sportswear retailer Nike mistreated workers.
Nike creates "Linsanity" edition shoes
Nike has created Jeremy Lin "Linsanity" edition shoes for the New York Knicks point guard sensation, a leading sneaker website said. The red and blue shoes will be embroidered with the word "Lin", counterkicks.com said.
Indonesian Nike workers win USD1m in unpaid overtime
A contentious battle between Nike and labourers at a factory in the Indonesian city of Serang, Banten Province, was settled on Wednesday with USD1 million in unpaid overtime being awarded to some 4,500 workers there.
The settlement, arrived at after 11 months of investigations and negotiations spurred by a nongovernmental organisation and a trade union representing workers at Nike's Nikomas sneaker factory in Serang, is meant to cover almost 600,000 hours of overtime pay that workers said they never received over the past two years.
Nike set to build China HQ in Shanghai
Sportswear and equipment supplier Nike will build its China headquarters in Shanghai to further penetrate and cement its 30-year roots in the Chinese market.
The 54,575 square-metre headquarters will be located in Yangpu District and is due to open in the first quarter of 2014 to support its long-term business growth strategy, the US-based firm said on Monday.
10 lessons learned from Nike
If you want to pick a winner like Nike, you have to do your homework, CNBC's investment programme "Mad Money" host Jim Cramer said.
Nike shares jumped almost three percent on Wednesday after the world’s largest shoe and clothing company reported earnings after the bell on Tuesday that beat Wall Street’s estimates.
Cramer said he saw this coming because he did his research. So he used the Nike example to compile a checklist of what homegamers should analyse when they do their homework on any given company.
Nike sets out to change sports mindset in China
Nike hopes to roughly double its sales in China by 2015, to reach a target of USD4 billion annually, but to do so, it has to foster a culture of everyday sports.
But the Chinese consumer himself presents a major obstacle, market watchers say. Field sports such as soccer and baseball have limited appeal in crowded urban areas, while health clubs are traditionally seen as the province of the rich.
Big plans for Li Ning run into trouble
One year ago, Zhang Zhiyong, chief executive of Li Ning, made an ambitious statement at a Beijing press conference, saying the home-grown sportswear maker would break into the world's top five sports brands within eight years and overtake Nike to be the largest seller in mainland China.
Chinese sportswear brands feeling the heat as consumers trade up for foreign brands
After years of breakneck expansion, Chinese sportswear brands such as Li Ning and
China Dongxiang (Group) Company are grappling with shrinking margins, slowing sales growth and rising inventories of outdated products, threatening the sector.
While the Chinese brands struggle, Nike and adidas, armed with heavy investment in research and development as well as marketing expertise, are gaining market share in the world's second-largest economy.
