Nike Accounting

Topics: Balance sheet, Nike, Inc., Generally Accepted Accounting Principles Pages: 17 (3659 words) Published: November 5, 2010

1. Nike, Inc.

2. Nike world headquarters location

One Bowerman Drive

Beaverton, Oregon 97005-6453

3. In 1950, before there was the Swoosh, before there was Nike, there were two visionary men

who pioneered a revolution in athletic footwear that redefined the industry.

Bill Bowerman who was constantly seeking ways to give his athletes a competitive advantage.

and Phil Knight was a talented middle-distance runner from Portland, who enrolled at Oregon in

the fall of 1955 and competed for Bowerman’s track program. But Bowerman and Knight each

had full-time jobs - Bowerman at Oregon and Knight at a Portland accounting firm - so they

needed someone to manage the growing requirements of Blue Ribbon Sports. Enter Jeff

Johnson, whom Knight had met at Stanford. A runner himself, Johnson became the first full-time

employee of Blue Ribbon Sports in 1965, and quickly became an invaluable utility man for the

start-up company.

Nike entered the 1980s on a roll, thanks to the successful launch of Nike Air technology in the

Tailwind running shoe in 1979. By the end of 1980, Nike completed its IPO and became a

publicly traded company. This began a period of transition, where several of Nike’s early

pioneers decided to move on to other pursuits. Even Phil Knight stepped down as president for

more than a year in 1983-1984, although he remained the chairman of the board and CEO.

By the mid-1980s, Nike had slipped from its position as the industry leader, in part because the

company had badly miscalculated on the aerobics boom, giving upstart competitors an almost

completely open field to develop the business. Fortunately, the debut of a new signature shoe for

an NBA rookie by the name of Michael Jordan in 1985 helped bolster Nike’s bottom line.

In 1996, Nike Golf landed a vastly talented but as-yet-unproven young golfer named Eldrick

“Tiger” Woods for a reported $5 million per year. Competitors laughed and critics howled at

Nike’s ‘folly,’ until Tiger won the 1997 Masters by a record 12 strokes. No one is laughing now.

Nike also began investing in the sport of cycling, including a promising young cyclist who

appeared to be on his way to success until he was diagnosed with cancer. He lost most of his

sponsors, but Nike elected to stay with him. In 1999, Lance Armstrong’s incredible comeback

resulted in the first of what would be seven consecutive Tour de France titles Nike rang in the

new millennium with a new footwear cushioning system called Nike Shox, which debuted during

Sydney in 2000. The development of Nike Shox culminated more than 15 years of perseverance

and dedication, as Nike designers stuck with their idea until technology could catch up. The

result was a cushioning and stability system worthy of joining Nike Air as the industry’s gold


Today, Nike continues to seek new and innovative ways to develop superior athletic products,

and creative methods to communicate directly with our consumers. Nike Free, Nike+ and Nike

Sphere are just three examples of this approach.

4. Back before the Swoosh logo and long before the days we were called Nike, there was Blue

Ribbon Sports (BRS). It was the company Phil Knight, our founder, and legendary track coach

Bill Bowerman created in 1964 to provide athletes with better shoes. Their first year sales totaled

around $8,000. It wasn’t until 1971 that BRS introduced the concept of the Greek winged

Goddess of victory—Nike. In December 1980 we went public. And the rest is history.

Nike is the world’s leading designer, marketer and distributor of authentic athletic footwear,

apparel equipment and accessories for a wide variety of sports and fitness activities. Wholly-

owned Nike subsidiaries include Cole Haan, which design, markets and distributes luxury shoes,

handbags, accessories and...
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