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Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: AllansAlias who wrote (18498)	9/14/2000 6:30:07 PM
From: patron_anejo_por_favor	Read Replies (1) \| Respond to of 436258

I hadn't noticed, but curious timing on the earnings release for NIKE (ie, 2 days before the Olympics start). And of course, they've been a major beneficiary of the strong dollar, due to their manufacturing being done anywhere except in the Land of the Free and the Home of the ClownBuck (or is it "the land of Free ClownBucks"....damn this monetary stuff is confusing<GGG>). dailynews.yahoo.com Philip H. Knight, Chairman and CEO, said, ``We're off to a good start for the fiscal year with accelerating revenue growth and increasing profitability. I'm particularly pleased by the strength of our international businesses, which generated double-digit revenue growth despite significant currency weakness in Europe. The weakness of the Euro has also put quite a bit of pressure on our profitability. However, by working hard at managing our total business, as reflected in our gross margin, we have been able to meet our financial goals.''* I love it. The strong dollar undoubtedly reduced their costs of production, but that is ignored, only the "pressure on their profitability." Half of their sales are in the U.S., and all of their production is overseas. I'd venture that the overall impact of currency fluctuations was positive, and he's acting like they succeded in winning the marathon with a piano tied to his back. I guarantee that next quarter, after the ClownBuck collapses he'll be saying that "the drop in our profitability was caused by dollar weakness" or some such fecal matter.... In any event, no doubt a deluge of insider selling once the "quiet period" is lifted. With the ClownBuck starting to quiver a bit, they may be ready to give.