Nike

Leading maker of sneakers and athletic apparel.

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Headquarters:
One Bowerman Dr.
Beaverton, OR 97005
Employees: 48,000
CEO: Mark Parker
Stock Symbol: NKE

Website: http://www.nike.com

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Nike is the world's leading maker of athletic shoes, equipment and apparel. Nike products cover a broad range of sports including basketball, football, golf, running and soccer. Sneakers made by Nike are sold for $40-$300 per pair. Nike is one of the most-heavily advertised and best known brands in the world.

Nike has signed exclusive and expensive marketing deals with some of the world's top athletes -- including Tiger Woods, Rafael Nadal and LeBron James -- to promote its products.

Wholly-owned NIKE, Inc. subsidiaries include Converse Inc., which designs, markets and distributes athletic lifestyle footwear, apparel and accessories and Hurley International LLC, which designs, markets and distributes surf and youth lifestyle footwear, apparel and accessories.

Nike sold its Umbro and Cole Haan brands in 2012.

In fiscal 2013, Nike reported record revenues of $25.3 billion, an 8% increase, and net income of $2.48 billion.

"Fiscal 2013 was a great year for NIKE, driven by our innovative products and the power of our brands,” said Mark Parker, President and CEO of NIKE, Inc. “And we’re excited about what lies ahead. We have the best leadership team in the industry and a deep innovation pipeline."

Nike employs over 48,000 people worldwide. Most Nike products are manufactured by contractors in Vietnam, China, India and Indonesia. Through suppliers, shippers, retailers and other service providers, Nike directly or indirectly employs nearly one million people.

Nike headquarters in Beaverton comprises 17 buildings on 178 acres. Each building is named after an athlete who is key to Nike's growth over the years including soccer star Mia Hamm, baseball great Nolan Ryan, tennis star Pete Sampras and cyclist Lance Armstrong.

History

Nike was founded by Philip Knight, who ran track at the University of Oregon, and his team coach Bill Bowerman. In 1963, Knight began selling Tigers running shoes from Japan at a store known as Blue Ribbon Sports in Eugene, OR. Knight would also sell shoes from the back of his car at track meets.

Sales grew and Knight hired an art student in 1971 to develop the company's well-known swoosh symbol for just $35. The company became known as Nike in 1972 which was named after the Greek goddess of victory.

In 1985, Nike's fortunes changed when it signed up a young basketball player for the Chicago Bulls named Michael Jordan. His line of sneakers known as Air Jordans has become the best selling shoe line in history.

Benefits

Full-time employees (those scheduled to work 30 or more hours per week) are eligible for benefits the first day of the month following 30 days of employment. Nike provides a substantial subsidy to full-time employees to assist with the cost of these benefits.

Part-time employees (those working between 20 and 29.99 hours per week) are eligible for health coverage the first day of the calendar year following 12 months of employment.

- Medical, dental, vision coverage

- Life and disability insurance

- 401(k) plan - Nike matches 100% of the first 5% of pay contributed. Match is invested in Nike stock and immediately 100% vested when contributed.

- Discounts at employee stores and guest passes

· Paid Time Off - Time off accrues throughout the year. Maximum PTO accrual is limited to 1.5 times your annual accrual amount. Once time is accrued, it can be used for vacations, sick time, or other personal reasons. The accrual amount is based on length of Nike service.
Year of Service Annual Full-Time Accrual
(30 or more hrs/wk)
Annual Part-Time Accrual
(between 20 and 29.99 hrs/wk)
0-2 years 120 hrs 60 hrs
2-4 years 160 hrs 80 hrs
4-9 years 200 hrs 100 hrs
9-19 years 240 hrs 120 hrs
19 + years 280 hrs 140 hrs

· Sabbaticals - Contribution by Nike and employee for five consecutive weeks off after 10 years of employment, and every five years thereafter.
· Paid Holidays - Most employees receive 10 per year plus one Personal Floating Holiday

Compensation Programs

- Performance Sharing Plan (PSP) - Nike has an annual bonus plan that rewards employees based on Nike's performance (to reward team success) and individual performance (to reward your contributions to that success).
- Employee Stock Purchase Plan - Contribute 1% to 10% of your pay through payroll deduction to buy NIKE stock at 15% off the fair market value. Participate by signing up during open enrollment periods in March and September.

Nike also provides a number of other employee benefits for US employees including:

  • Direct Deposit of paycheck
  • Health Care and Family Care Reimbursement Accounts
  • Scholarships for children of employees
  • Employee Assistance Plan
  • Work / life balance resources and referrals
  • Adoption Assistance
  • Tuition Assistance
  • Group Long Term Care Plan
  • Group Legal Plan
  • Matching gift program for charitable donations. Nike will match not only your financial contributions to the nonprofit organizations of your choice, but will also contribute $10 for every hour of volunteer work you offer.
  • Chance to take part in community service volunteering
  • Discounted auto and homeowners insurance
  • Credit Unions
  • Dress Code: We have a casual workplace. Jeans and sneakers are welcome.
  • Up to 50 percent off all Nike footwear, apparel, and equipment, plus access to our Employee Stores for you and eligible family members. You'll also receive guest passes to these stores.
  • Not close to an employee store? Niketown, NikeWomen, and Nike Outlet stores honor the Nike discount at retail. And, we have an online store for employees and their eligible family members

Updated November 21, 2013