Nike U.S. shoe sales up 21% in 4th quarter. (Nike Inc.)

Footwear News, July, 1993 by Wilner, Rich

Athletic footwear industry leader Nike Inc posted a a 21% increase in sales during the 4th qtr which ended in May, 1993, according to company officials. However, Nike Inc Chairman and CEO Phil Knight warned investors and the public that Nike's performance will not likely to be as strong for the next 12 months due to low consumer confidence which has affected athletic footwear and apparel companies.

BEAVERTON, Ore.--All's well in the house of Nike Inc., as U.S. sales of footwear increased 21 percent in the fourth quarter ended May 31, finishing off a record year for sales and profits.

But as expected, Nike warned Wall Street and retailers that the solid double-digit sales increases they have grown accustomed to seeing from the Swoosh weren't likely to occur over...

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