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Nike Reports Sales Drop

Top athletic-shoe maker not immune to recession woes
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15 years ago

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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.

 

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