Nike just reported some pretty strong financial results – net income up 104% to $496 million and revenues up 7%. But the breakdown of the numbers tell a different story, one of how certain markets have begun to recover, others haven’t and yet others are going gangbusters. Shoes are the biggest part of Nike’s business, so, it’s worth looking at those sales in different regions. In the U.S., footwear sales are actually down 1%. And even worse in Japan where they are down 6%. So, where are more kids today looking to become the next Air Jordan (and wear Michael’s brand of basketball shoes)? China (shoe sales up 12%) and in emerging markets (show sales up 53%).
Maybe this is also telling us about how different countries will fare in basketball in the next summer olympics…
