While Nike's U.S. business is doing well--domestic sales were up 15 percent from a year earlier in the quarter ended Nov. 30--the shoe company is facing more competition in Europe and Asia, the
source of nearly half of its profits. In those markets, consumers have been favoring shoes that run counter to Nike's basic athletic model--what the
Wall Street Journal defines as a
"low-profile, Puma-style,look... better-suited for hanging out than running sprints." While Nike has developed some similar models, the market for such shoes is already fairly flooded.
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