FILE PHOTO: The logo of Nike (NKE) is seen in Los Angeles, California, United States, April 12, 2016. REUTERS/Lucy Nicholson/File PhotoShares of the Dow component, which also reported quarterly profit and sales that topped estimates, were up 8.2 percent at $57.54 in trading after the bell.Nike comments confirmed an earlier report, which said the footwear maker was seeking to directly sell its products on Amazon, rather than through third party and unlicensed dealers.looking for ways to improve the Nike consumer experience on Amazon by elevating the way the brand is presented and increasing the quality of product storytelling, Nike Chief Executive Mark Parker said on a post earnings call.Nike revenue could increase by $300 million to $500 million in the United States, or 1 percent in global sales, if the pilot turns into a more meaningful partnership, Goldman Sachs analyst Lindsay Drucker Mann said in a client note.Beaverton, Oregon based Nike, which saw greater demand for its core brands including Jordan, and in sportswear and running categories, said its selling, general and administrative expenses fell 4 percent to $2.7 billion in the fourth quarter ended May 31.In the face of intense competition in North America, Nike has been focusing on its new and core brands such as ZoomX, Air VaporMax and Nike React. The company earlier in June said it would cut 2 percent of its global workforce and trim a quarter of its shoe styles as it looks to become nimbler.While Nike North America sales were flat, sales in Western Europe, its second biggest market, were up 4 percent in the fourth quarter..
The first phase, 35,000 barrels a day, is scheduled for startup in late 2014.The transaction marks a quiet rise in Canada for the Chinese oil giant.The unusual unwinding of the MacKay River joint venture doesn require federal approval since PetroChina, the largest of China state controlled oil companies, is already in control of the project.Indeed, PetroChina expansion in Canada wasn its call. Athabasca said it was its call to exercise its option to divest its 40% interest in the MacKay River oil sands project for $680 million in cash because it can use the cash more profitably elsewhere.Athabasca is expected to take a similar step around the end of 2012 with its Dover oil sands project, where it has a similar arrangement with the Chinese giant.Sveinung Svarte, president and CEO of Athabasca, said the separation is friendly and is no reflection on PetroChina, the largest of China state controlled oil companies, as a partner.Both companies had the ability to get out of the arrangement, as part of joint ventures struck in 2010. Athabasca had originally sold 60% stakes in MacKay River and Dover to PetroChina for $1.9 billion, with put/call options on the remainder triggered by regulatory approvals.