Nike

11 Pages 2711 Words

ted in Wilsonville, Oregon; Memphis, Tennessee; and Greenland, New Hampshire. Apparel products are shipped from their Memphis distribution center. Overseas, Nike operates 24 distribution centers in Europe, Asia, Australia, Latin America, Africa, and Canada. In addition, Nike operates 175 retail outlets outside the United States, consisting of NIKETOWNs, factory stores, employee stores, and Cole Haan stores. Nike sells a line of dress and casual footwear, apparel and accessories for men and women under the brand names Cole Haan, and Bragano through their wholly owned subsidiary, Cole Haan Holdings, Inc. Nike also owns a subsidiary under the name of Bauer NIKE Hokey Inc., which manufactures and distributes ice skates, skate blades, in-line roller skates, protective gear, hockey sticks, and hockey jerseys. Another one of Nike’s wholly owned subsidiaries, Hurley International LLC, designs and distributes action sports apparel for surfing, skateboarding, and snowboarding as well as youth lifestyle apparel and footwear under the Hurley brand name.
As of July 9, 2003, Nike entered into an agreement to buy out Converse Inc., a widely recognized footwear company based in Massachusetts. The annual report conveys the image of a rapidly expanding, and very aggressive company. Revenues and gross margin have been increasing consistently over the years, indicating profitability and vigorous financial management. The segments of the report consist of financial statements for 2001-2003, and supplementary information explaining key figures.
An annual report is the way a company communicates with its shareholders. Since it is an unofficial document, some of its contents may vary, but a report always includes balance sheet data and a list of officers. It may include sections which describe company activities, future plans, forecasts and other information often not available elsewhere. A Form 10-K report is the official annual business and f...