Retailers, consumers and prices
Check Out Line: Nike’s U.S. hurdle
Check out Nike just not doing it in the U.S.
The athletic shoe and apparel maker apparently is not immune to the sluggish U.S. economy. The company said Wednesday that U.S. orders for goods through November were flat.
It also said sales in the fourth quarter rose 4 percent in the U.S., compared with a 16 percent increase for the entire company. U.S. apparel sales rose only 2 percent.
Nike said it will focus on more premium merchandise that is better distributed and can stand out. It also stressed that U.S. profit margins are not eroding.
For Nike, getting through the tough U.S. economy might just be an invigorating workout.
“Strong companies who are able to navigate through those tough times can come out even stronger,” Nike CEO Mark Parker said in a conference call.
Ooh, feel the burn!
Also in the basket:
Anheuser-Busch to reject $46.3 billion InBev offer
The road runs out: Streetwear adapts as market implodes (WWD)
Steve & Barry’s Hits Trouble: Hyped clothing retailer hires turnaround help (WSJ)