FARK.com: (7356718) Nike first quarter income falls 12%. Company immediately begins cost cutting measures by eliminating pay incentives, candy, nap time

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		Nike first quarter income falls 12%. Company immediately begins cost cutting measures by eliminating pay incentives, candy, nap time (cbsnews.com)		27
		More: Fail, account of profits, Beaverton

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1029 clicks; posted to Business » on 01 Oct 2012 at 10:54 AM | Favorite | share:

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carrion_luggage		2012-10-01 11:02:07 AM

Two to a blankie!

groppet		2012-10-01 11:58:31 AM

And more beatings for moral

StRalphTheLiar		2012-10-01 11:59:14 AM

Oregon may have to cut back to 34 uniforms and lose the chrome-plated spinners.

realmolo		2012-10-01 12:12:30 PM

Let me say this:

Fark Nike, and honestly fark the entire "sportswear" industry.

Some day, people will look back on the late 20th/eartly 21st century and say "Why did everyone dress in neon-colored nylon clothing that was 2 sizes too big?". And they'll laugh and laugh.

Virtual Pariah		2012-10-01 12:25:02 PM

But beat expectations. also, Revenues rose 10%

Yet, because some analyst projected higher numbers this is a bad thing. This is why the system is farked..

SearchN		2012-10-01 12:47:43 PM

Funny. They contacted me late Friday to see if I would be interested in a position there.

/Don't want to move though.

Unlord		2012-10-01 12:47:58 PM

I enjoy using the public running tracks and trails at NIKE HQ while wearing Adidas gear from head to foot.

Yeah, I like to push the envelope over the edge.

gingerjet		2012-10-01 01:06:21 PM

Virtual Pariah: But beat expectations. also, Revenues rose 10%

Yet, because some analyst projected higher numbers this is a bad thing. This is why the system is farked..

Tim Cook is on the board of directors. So of course analyst estimates will be completely farked.

CygnusDarius		2012-10-01 01:15:07 PM

I know where this is going.

cache.io9.com

/Obscure?

moefuggenbrew		2012-10-01 01:22:27 PM

realmolo: Fark Nike, and honestly fark the entire "sportswear" industry.

I'm mad at a company for providing things that people want to buy and wear.

Dakai		2012-10-01 01:29:53 PM

This is what happens when you design ugly college football uniforms for one game. And then you GAVE them to the schools too? That's a great business model!

cefm		2012-10-01 01:41:19 PM

Gotta raise the prices on those LeBrons, man!

RAWISRADFORD		2012-10-01 01:50:08 PM

CygnusDarius: I know where this is going.

/Obscure?

Jennifer government

Decent read

Goimir		2012-10-01 01:53:47 PM

How is removing incentives... Sweet jesus people are dumb.

Nogale		2012-10-01 02:13:10 PM

I'm not a fan of Nike and don't wear their shoes, but if they ever organize a Night Run event in your city - do it! They're a lot of fun.

GroverCleveland		2012-10-01 02:27:07 PM

so chinese child laborors need to be beat 12% harder.

WTF Nike, you don't know how to run your business?

ha-ha-guy		2012-10-01 02:35:58 PM

StRalphTheLiar: Oregon may have to cut back to 34 uniforms and lose the chrome-plated spinners.

I want Nike to go bankrupt for what they've done to college uniforms.

MrEricSir		2012-10-01 03:33:38 PM

Unlike computers, it's possible to buy good sports shoes that are actually made in America.

imageshack.us

Nogale		2012-10-01 04:35:14 PM

MrEricSir: Unlike computers, it's possible to buy good sports shoes that are actually made in America.

[imageshack.us image 600x409]

Yep - but be careful. It depends on the model. NB does some of its manufacturing overseas, and some are "assembled in the US" as opposed to "made in the US."

I have New Balance shoes that correct for stability and love them. Also like that my footwear is not made by slave labor.

Betep		2012-10-01 04:39:53 PM

MrEricSir: Unlike computers, it's possible to buy good sports shoes that are actually made in America.

[imageshack.us image 600x409]

Not so much anymore...
After the Big Shoe Emigration from Massachusetts, lots of the subcontractors went belly up. Not many cutters/clickers, stitchers, die makers, mold makers, molders and misc suppliers are around. New Balance is offshoring (as opposed to outsourcing) a portion of it's cutting and sub-assembly work. Last I heard it was in the Philippines which is where all the other brands started island hopping to Asia.

/20 years in Shoe Biz
//my Rolodex is almost empty.

protectyourlimbs		2012-10-01 05:00:15 PM

GroverCleveland: so chinese child laborors need to be beat 12% harder.

WTF Nike, you don't know how to run your business?

Think the new Kobe's are actually made of Chinese children's skin for a tighter fit, so I think the saying fits, you cant be a dead Ma...

You're the jerk... jerk		2012-10-01 05:28:48 PM

Virtual Pariah: But beat expectations. also, Revenues rose 10%

Yet, because some analyst projected higher numbers this is a bad thing. This is why the system is farked..

Thankfully we have got our mandated post from someone ignorant of corporate finance in the thread to post something non-nonsensical. Let's all treat is as gospel and respond to it.

ericbo84		2012-10-01 06:11:26 PM

Someone that buys something for $120+ that cost the company

ericbo84		2012-10-01 06:12:28 PM

yay cut off half my post. "cost the company less than $5 is a sucker"

gilgamesh23		2012-10-01 09:45:13 PM

Lame-o Business tab article, but that's an awesome headline.

largedon		2012-10-02 07:29:26 AM

Surprised their income has fallen. Seems every kid I see is wearing those $14 dollar elite socks and probably owns many pairs. What do those cost to make, like fifty cents.