If you heard a round of "Swoosh" last night, it was probably the cry of joyous Nike
With earnings climbing by 18% for a $0.57 a share showing on $2.5 billion in revenue, it might seem like smooth treading for the company. Unfortunately, the laces are coming undone. Yes, Nike scored a strong quarter, but that came on the heels of big gains in Europe and Asia. Domestically, it saw an 8% dip in revenues. Recent events are also uninspiring.
Earlier this week, Foot Locker
Whether Foot Locker is reacting to customer demand or shifting its product mix to produce higher margins, it doesn't bode well for Nike if others follow suit. As a matter of fact, even the company's mouthpieces are getting cold feet.
Last week, Nike settled with Minnesota Vikings quarterback Daunte Culpepper over a lawsuit that Nike initiated over the summer when the scramble-happy passer wanted to ditch a Nike endorsement deal to hawk Reebok