OTHER NEWS - July 10, 1996

Nike Profit Rises 38% in Quarter: Nike Inc.’s earnings climbed in its fourth fiscal quarter as its domestic sales of athletic footwear and apparel surpassed $1 billion for the first time in any quarter. The sneaker industry leader said it earned $156.4 million, or $1.06 per share, in the three months ended May 31, compared with $113.4 million, or 78 cents a share, a year earlier. That was above the consensus estimate of 98 cents per share by a number of Wall Street analysts. Nike’s stock rose sharply in the wake of the report. On the New York Stock Exchange, its shares rose $4.50 to close at $108.75.