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Nike Financial Backround

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Submitted By brendan95
Words 440
Pages 2
Team Project
Chief Financial Officer (CFO)
Nike Inc.
By Brendan Rausenberg

Nike’s background: A booming clothing line that its financial statements can back up.
Nike, Inc. Was started by Bill Bowerman and Phil Knight, who met each other in 1957. However, before they went into business, Knight became a Certified Public Accountant also known as a (CPA) designation. The original company they stated would be known as Blue Ribbon Sports, and both members put a collective investment of $1000 into the company. In 1966 the first Blue Ribbon retail store had opened. 1971 was the year the “swoosh” logo has been designed and by the end of that year the company reached over 1 million in sales.
Shortly after BRS launched its Nike line of footwear, and by 1980 had become a publicly traded company on the stock market, with an opening sale of 2 million of common stock. By 1985 Nike has launched its Air Jordan series and receives massive attention from Olympic advertisements on athletes, sales have soared to 920 million.
Today, Nike is a huge multi-national corporation and also a top-200, Fortune 500 Company. With sales of 24 billion just in the fiscal year of 2012 alone, it is no wonder why Nike has become such a vast company that has been growing financially sound and stable. Nike is currently traded today as a public stock on the DOW, and as a component on the S&P 500.

Nike’s current financial success and fiscal report summaries.
Nike Inc. plans to buy back $8 billion of Nike's class B stock in 4 years after the current $5 billion buyback program is completed in second quarter of fiscal 2013. Up to September 2012, Nike Inc. has bought back $10 billion of stock. Nike doing this will allow the share value to continue increasing and disallow threats of any other shareholders looking to have a controlling stake in the company.
Nike has recently reported that

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