Sportswear Giant’s Results See Golf Shoes as Indicator
Now Nike’s results are out for the last quarter and they are again doing OK … considering! Their total income is down 2% ( to $4.4 billion) but up 2 percent excluding currency changes. Signififcantly though worldwide futures orders are down 10 percent, (2 percent excluding currency).
Looking around the globe, Europe/M.East/Africa is the biggest slowdown with The Americas down but faring better. Asia/Pacific figures are up. Interestingly where regions are up “footwear” (obviously including golf shoes) are well up and where the region is down, footwear sales and orders are well up.
It’s like golf shoes as an economic indicator!
