Nike Reports Sales Drop

Top athletic-shoe maker not immune to recession woes
Posted March 19, 2009

Nike Inc. (Beaverton, Ore.) says worldwide orders of shoes and clothes for delivery between March 2009 and July 2009 will drop 10 percent to $6.5 billion, compared to last year. Nike sells its merchandise ahead of time, providing a key indicator of the health of the footwear market.

Nike’s third quarter sales, which ended Feb. 28, rose 3 percent, with a strong showing in Asian-Pacific region. However, sales in Europe, the Middle East and Africa dropped 14 percent.