Nike's Problems Aren't Going Away Anytime Soon
Nike Inc (NYSE: NKE) has reigned over the sports world for more than a generation, but its grip on the crown is starting to weaken.
First, it failed to make the best-selling sneaker in the country for the first time in more than a decade last year as the throwback Adidas (NASDAQOTH: ADDYY) Superstar claimed the top spot. Nike filled out the rest of the top ten, but that was small consolation for a company accustomed to winning.
Now we just learned that in August, Adidas passed Nike's Jordan Brand to become the No. 2 sneaker line in the country, according to the research firm NPD Group, behind Nike Brand itself.
Source: Fool.com
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