We looked down helplessly at our shoes as they sunk into the muddy bank of the North Spit. When we pictured clam digging, we pictured sticking a shovel into dry sand and bringing out a clam, simple as that. Clam digging is not as simple as that, but it’s close.
Shoe and apparel company Nike, Inc. says it may cut up to 1,400 jobs as part of a restructuring. The company said Tuesday that it is realigning its business and as part of that, could cut up to 4 percent of its work force. Nike employs nearly 35,000 people worldwide.
"We truly believe 2008 will be a defining moment for the industry, the brand, the athletes and the consumer," said Kris Aman, Nike's global general manager for the Beijing Olympics. Nike is not an official sponsor. Its rival Adidas is.
Nike Inc. reported a 51-percent increase in fiscal first-quarter net income on Thursday, boosted by higher revenue and favorable exchange rates for the world's largest athletic shoe and clothing company.
Nike Inc.'s products are focused on helping athletes set records, but the company set a few of its own with fiscal fourth-quarter and year-end results that were well received by analysts and investors.
Nike Inc. said Tuesday its fiscal fourth-quarter net income jumped 32 percent because of strong gains in overseas markets, subsidiary business and future orders for the world's largest athletic shoe and clothing company.
Nike says sales topped 16 billion for its fiscal year with profits at one-point-five billion. That's a nine percent increase in sales and a seven percent boost in 2007 for the Beaverton-based athletic shoe company.
Nike Inc. managers said Tuesday they will add 100 new company stores worldwide over the next three years as part of a plan to reach $23 billion in sales by 2011 for the world's largest athletic shoe and clothing manufacturer.
Nike CEO Mark Parker said Tuesday he plans a reorganization on the way to making the world's largest athletic shoe and clothing company into a $23 billion global giant by 2011. Nike had sales of $15 billion in 2006.