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NIKE is the worlds 1 shoemaker in the world Basketball players still want to be like Mike but shoe companies want to be like NIKE NIKE currently dominates the US footwear market with about 45 of the total market NIKE controls more than 20 of the US athletic shoe market The company designs and sells shoes for a variety of sports including baseball basketball cheerleading golf volleyball hiking tennis and football NIKE also sells Cole Haan dress and casual shoes and a line of athletic apparel and equipment In addition it operates NIKETOWN shoe and sportswear stores NIKE factory outlets and NIKE Women shops NIKE sells its products throughout the US and in about 160 other countries In fiscal 2005 NIKE met their financial goals The revenues grew 12 to 137 billion net income grew 28 to 12 billion and NIKE delivered diluted earnings per share of 448 a 28 increase versus fiscal 2004 The gross margin percentage increase 445 The return on invested capital has improved and free cash flow from operations has increased They continue to return cash to shareholders through dividends and share repurchases Cash provided by operations was 16 billion in 2005 compared to 15 billion in 2004 There has been an improvement in cash management of accounts receivables and timing of inventory receipts and vendor payments NIKEs business model is to market high end consumer products that are manufactured in low cost supply chains In the 1990s NIKE has faced many bumpy roads regarding managerial practices NIKE was scrutinized against sweatshop conditions at its overseas suppliers Accounting firms have found many unsafe working conditions in their overseas factories Many employees were exposed to carcinogens and 77 percent suffered respiratory problems Also they were forced to work 65 hours a week far more than the law allows for a low pay They were faced with unexpected criticism that considered them irresponsible and greedy This was reported at the time when
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