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Nike Sales Increase Worldwide

Monday 02nd of July 2007 06:08:00 PM

Due to a weakened US dollar, growing popularity in Asian countries, and big events like the 2008 Olympic Games only a year away, clothing and athletic shoe manufacturer Nike has seen an increase in sales over the past few months. Most of the increases have been in their women's apparel line, which includes Polo Shirts, shorts, and shoes.

"They're No. 1 in China; it's nice to have so much market share in an area that's growing so fast. Their spending behind Nike golf and women's apparel is working for them," said Peter Kwiatkowski, an investment banker from Cincinnati-based Fifth Third Asset Management in the US. Consumers are spending more money on golf wear, soccer wear, and other sports clothing, rather than on sports jersey's, which the company is known for in the industry.

Because consumers are looking for comfortable casual clothing they can wear when working out, playing sports, or just to wear on the weekends, Nike has manufactured Polo Shirts and other clothing to suit consumer need by using thinner fabrics, and new technology that keeps sweat from saturating the clothing and making it uncomfortable to wear for long periods of time.

Designing this type of clothing and competing with growing companies like Under Armour did cause Nike to rethink its direction in the casual clothing business after they started losing profits. "They focused in an area where they can leverage their brand. They may have lost some market share to Under Armour, but Under Armour has grown the market," said investment banker David Heupel, who works for Thrivent Investment Management in Minneapolis, Minnesota, USA.

(c)Greg Olsen, www.sxc.hu