June 28, 2019
Our office is closed next week for the Jul. 4 holiday. The next issue of SGI will be Jul. 12.
For the full year, Nike net income more than doubled to $4,029 million from $1,933 million, lapping the $2 billion one-time tax on foreign earnings incurred in fiscal 2018 due to the Tax Cuts and Jobs Act, on revenues that increased 7% to $39,117 million from $36,397 million.
The Chinese sportswear giant wants to raise up to US$1 billion in a public offering of its Topsports retail operation on the Hong Kong stock exchange, Reuters reported, citing sources close to the matter.
The long-term extension of Nike’s kit sponsorship deal with France’s biggest football club had been rumored since April, extending an existing contract than was set to end in 2022.
BSN is acquiring 40-year-old team dealer Key Sport Shop, which serves the Rolla, MO, market and will add its reps to BSN sales team.