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NIKE, Inc. : Nike To Support Livestrong; 'Saddened' It Was Misled by Armstrong

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01/18/2013 | 01:30pm CEST
   By Melodie Warner 
 

Nike Inc. (NKE) said it will continue to support the Livestrong Foundation, although it already terminated its contract with former professional cyclist Lance Armstrong in October.

In an interview with Oprah Winfrey that aired Thursday evening, Mr. Armstrong said he used performance-enhancing drugs to win his seven Tour de France titles. While being treated for testicular cancer, he created the Lance Armstrong Foundation, which is now known as the Livestrong Foundation. In October, Mr. Armstrong stepped down as chairman of the charity amid fallout from doping allegations.

On Friday, Nike said it doesn't condone the use of illegal performance-enhancing drugs in any manner and the company remains "saddened after being misled for more than a decade."

The maker of sports apparel pledged continued support of Livestrong's initiatives to help people affected by cancer.

Write to Melodie Warner at [email protected]

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

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Financials ($)
Sales 2018 36 033 M
EBIT 2018 4 314 M
Net income 2018 2 571 M
Finance 2018 1 935 M
Yield 2018 1,18%
P/E ratio 2018 39,83
P/E ratio 2019 24,40
EV / Sales 2018 2,91x
EV / Sales 2019 2,71x
Capitalization 107 B
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Nike Technical Analysis Chart | NKE | US6541061031 | 4-Traders
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Mean consensus OUTPERFORM
Number of Analysts 37
Average target price 71,0 $
Spread / Average Target 8,0%
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Managers
NameTitle
Mark G. Parker Chairman, President & Chief Executive Officer
Eric D. Sprunk Chief Operating Officer
Andrew Campion Chief Financial Officer & Executive Vice President
Hans van Alebeek Vice President-Global Operations & Technology
James H. Scholefield Global Chief Information Officer & Vice President
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