Friday, March 23, 2007

Sponsor Scandals and Shopping Innovations

* In the midst of this year's battle for the NCAA Men's basketball champion, Nike was the in the middle of a minor scandal of its own. Los Angeles Laker star Kobe Bryant may or may not have contacted a college player about signing with Nike. The LA Times reported Thursday that Bryant apparently called Texas freshman Kevin Durant about signing a "$30 million to $50 million shoe deal." While Bryant adamantly denies the claims that he called Durant, this story, whether true or not, is bringing attention to the freshman player whose team recently lost in the tournament to USC in the second round. [report]

* Nike's been a little secretive lately. In a recent report, Nike President and CEO Mark Parker said the company wants to change the way the people shop. How? They wont release any of that information! Parker said these concepts will be in retail within the next year.
I don't know about you, but is there anything Nike could do to be better? The company's third-quarter profit rose 7.7 percent after higher European sales and the ipod-compatible shoe hit the market. Net income also climbed $350.8 million and European sales had their biggest gain in two years. Nike is definitely at the top of its game! Nike's stock closed Friday at 109.5 a share and continues to rise. [
report]

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