IN BRIEF

NIKE’S NOURISHED NET: Nike’s net income grew 8.3 percent in the second quarter ended Nov. 30, hitting $129.3 million or 48 cents a share. The results were 2 cents better than consensus estimates and 4 higher than year-ago EPS. Revenues grew 6.3 percent to $2.34 billion as overall U.S. revenues were up 3 percent to $1.2 billion, including 10 percent growth in apparel, to $381 million, and despite a 2 percent dip in athletic footwear, to $690 million.

SPLIT DECISIONS: Liz Claiborne and Chico’s FAS both will ring in the year with stock splits. The board of Liz Claiborne approved a two-for-one split payable Jan. 16 to shareholders of record Dec. 31, while Chico’s FAS directors gave the go-ahead to a three-for-two split payable Jan. 18 to holders of record Dec. 31. Approximately 40.7 million shares of Chico’s stock will be outstanding after the split versus 104.4 million for Liz Claiborne. After briefly hitting a 52-week high of $40 following announcement of the split on Wednesday, Chico’s shares closed up 5 cents to $39.15 on Thursday. Claiborne shares dropped 78 cents to $49.50. Both issues are traded on the New York Stock Exchange.

AN EVEN DOZEN: Zambia has been approved by the Office of the U.S. Trade Representative to ship its apparel and textiles to the U.S. duty-free and quota-free. Zambia is the 12th country to qualify for apparel benefits under a trade measure passed last year by Congress covering sub-Saharan Africa and the Caribbean Basin.

load comments
blog comments powered by Disqus