Leading market positions in athletic footwear and apparel; Broad geographic diversity; and A strong financial profile and conservative financial policies. Intense worldwide competition in athletic footwear, apparel and equipment industry; Foreign currency risk; and Vulnerability to global economic downturns. The ratings on Beaverton, Ore.-based NIKE Inc. reflect its leading global position in sales of athletic footwear and apparel, geographic and customer diversification, and strong financial profile. In our view, these strengths are offset by the company's exposure to changing consumer preferences in this very competitive and marketing-intensive industry. NIKE is the largest seller of athletic footwear, and athletic apparel in the world. The company has maintained its brand strength, and its market position remains significantly more than twice that of
