Oct 14 (Reuters) - Nike ( NKE ) said on Tuesday it was

renaming its world headquarters in Beaverton, Oregon, after

co-founder Philip Knight with immediate effect.

The nearly 400-acre campus, the sportswear brand's

headquarters for more than 35 years, will now be called "The

Philip H. Knight Campus" (PHK). It was earlier known as "Nike

World Headquarters".

CEO Elliott Hill announced the name change in an all-staff

email to mark his one-year anniversary at the helm, according to

the statement. The company plans to celebrate with an event

honoring Knight in spring 2026.

Nike ( NKE ) reported a surprise rise in first-quarter revenue and

beat profit expectations earlier this month as its turnaround

efforts gained traction despite weakness in China and tariffs

pressuring margins.