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NIKE INC (NKE)

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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 CET
   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 melodie.warner@dowjones.com.

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

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Financials ($)
Sales 2017 34 592 M
EBIT 2017 4 680 M
Net income 2017 3 942 M
Finance 2017 2 435 M
Yield 2017 1,24%
P/E ratio 2017 24,75
P/E ratio 2018 22,02
EV / Sales 2017 2,70x
EV / Sales 2018 2,53x
Capitalization 95 728 M
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Mean consensus OUTPERFORM
Number of Analysts 36
Average target price 61,8 $
Spread / Average Target 6,8%
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NameTitle
Mark G. Parker Chairman, President & Chief Executive Officer
Eric D. Sprunk Chief Operating Officer
Andrew Campion Chief Financial Officer & Executive Vice President
Philip Hampson Knight Chairman-Emeritus
Alan B. Graf Independent Director
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