$8 billion program to repurchase shares of NIKE’s Class B Common Stock. The Company’s current $5 billion share repurchase program will be completed during the second quarter of fiscal 2013, and the new program will commence upon the completion of the current program.
"We believe repurchasing our shares is a prudent use of our cash and are
pleased to extend NIKE’s track record of returning value to shareholders
through sustained share repurchases,” said Mark Parker, NIKE, Inc.
President and CEO. “Over the past 10 years, NIKE, Inc. has returned $10
billion to shareholders through the repurchase of more than 167 million
shares. This new share repurchase program demonstrates our continued
confidence in NIKE’s strategy to generate long-term profitable growth
and strong cash flow, and reflects our commitment to delivering value to
Repurchases under NIKE, Inc.’s new program will be made in open market
or privately negotiated transactions in compliance with Securities and
Exchange Commission Rule 10b-18, subject to market conditions,
applicable legal requirements, and other relevant factors. This share
repurchase plan does not obligate NIKE, Inc. to acquire any particular
amount of common stock, and it may be suspended at any time at the
Company's discretion. NIKE, Inc. had approximately 361 million shares of
Class B Common Stock outstanding as of August 31, 2012.
About NIKE, Inc.
NIKE, Inc., based near Beaverton, Oregon, is the world's leading
designer, marketer and distributor of authentic athletic footwear,
apparel, equipment and accessories for a wide variety of sports and
fitness activities. Wholly-owned NIKE, Inc. subsidiaries include Cole
Haan, which designs, markets and distributes luxury shoes, handbags,
accessories and coats; Converse Inc., which designs, markets and
distributes athletic footwear, apparel and accessories; Hurley
International LLC, which designs, markets and distributes action sports
and youth lifestyle footwear, apparel and accessories; and Umbro
International Limited., a leading United Kingdom-based global football
(soccer) brand. For more information, NIKE’s earnings releases and other
financial information are available on the Internet at http://investors.nikeinc.com
and individuals can follow @Nike.
* The marked paragraph contains 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.
Investor Contact: Gavin
Media Contact: Mary