SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) May 29, 1997
NIKE, INC.
(Exact name of registrant as specified in its charter)
Oregon 1-10635 93-0584541
(State of incorporation) (Commission File (IRS Employer
Number) Identification No.)
One Bowerman Drive, Beaverton, Oregon 97005-6453
(Address of principal executive offices) (Zip Code)
(503) 671-6453
(Registrant's telephone number, including area code)
Item 5. OTHER EVENTS
The Registrant made the following announcement on May 29, 1997:
NIKE, Inc. today announced that it expects earnings for the fourth quarter
ending May 31, 1997 will be between $0.51 and $0.56 per share, below
the consensus estimate of $0.69.* The Company expects to report results
in early July.*
The Company reported that earnings would be impacted by a one-time pre-
tax charge of $18 million ($0.04 per share) primarily related to the
shutdown of a manufacturing facility at its Bauer Inc. subsidiary as
part of its long-term plan to reposition some manufacturing facilities
to more cost-effective overseas operations.*
The Company also stated that the remaining differences between the
earnings estimates of analysts and the Company are primarily due to
revenues below analysts' estimates. The lower than estimated revenues
are attributable to shifts in the mix of futures and at-once orders,
timing of shipments in Europe, product shortages, and a slight increase
in U.S. order cancellations.*
NIKE, Inc., based in Beaverton, Oregon, is the world's leading designer
and marketer of authentic athletic footwear, apparel and accessories for
a wide variety of sports and fitness activities. Wholly-owned NIKE
subsidiaries include Bauer Inc., the world's leading manufacturer of
hockey equipment; Cole Haan, which markets a line of high-quality men's
and women's dress and casual shoes; and Sports Specialties Corporation,
which markets a full line of licensed headwear. All per share data
reflects the Company's 2-for-1 stock split that became effective October
23, 1996. Total revenues for the trailing twelve months ending February
28, 1997, were $8.66 billion.
* The marked items are forward-looking statements that involve risks and
uncertainties that could cause actual results to differ materially.
These risks and uncertainties are detailed from time to time in reports
filed by NIKE with the S.E.C., including Forms 8-K, 10-Q, and 10-K.
Some forward-looking statements in this release concern futures orders
that are not necessarily indicative of total revenues for subsequent
periods due to the mix of futures and "at once" orders, which may vary
significantly from quarter to quarter.
Dated : June 10, 1997 NIKE, Inc.
By /s/ Robert S. Falcone
Vice President and
Chief Financial Officer
