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To: Cynic 2005 who wrote (1016)	2/24/1998 4:41:00 PM
From: Cynic 2005	Read Replies (1) \| Respond to of 86076

But, But, but, Abby said Asia doesn't matter and told us to relaaaxxxx --------------- Tuesday February 24, 4:15 pm Eastern Time Company Press Release SOURCE: Nike, Inc. Nike Sees Third Quarter Earnings Lower Than Analysts' Consensus Estimates BEAVERTON, Ore., Feb. 24 /PRNewswire/ -- NIKE, Inc. (NYSE: NKE - news) today announced that it expects diluted earnings for the third quarter ending February 28, 1998 will be between $0.24 and $0.28 per share, below the First Call consensus estimate of $0.38, and that earnings for the full year will be below the previously stated range of $2.00 - $2.15 per share. The Company expects to report third quarter results the third week of March.* The Company is experiencing higher than anticipated order cancellation rates in the Asia Pacific region, as the retail environment there remains weak. Aggressive pricing of close-out inventories, particularly in Japan, has also negatively impacted revenues and gross margins. In the USA region, higher levels of close-out sales continue to negatively impact gross margins, as the Company works aggressively to improve its inventory situation. The Company is examining its overall cost structure and plans to take actions, including realignments and reductions in its global workforce, aimed at improving profitability and increasing shareholder value without compromising its long-term growth opportunities. These actions will likely result in a restructuring charge in the fiscal year ending May 31, 1998.* * The marked paragraphs are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially. These risks and uncertainties are detailed from time to time in reports filed by NIKE with the S.E.C., including Forms 8-K, 10-Q, and 10-K. NIKE's earnings releases and other financial information are available on the Internet at NikeBiz.com. SOURCE: Nike, Inc.