Very strong financial profile and conservative financial policies; Top market positions in athletic footwear and apparel; and Broad geographic diversity. Exposure to changing consumer preferences and intense worldwide competition in the athletic footwear and apparel industry; Somewhat narrow product focus; and Vulnerability to global economic downturns and foreign currency risk. The ratings on Beaverton, Ore.-based NIKE Inc. reflect the company's very strong financial profile, top market positions in its core global markets, and good geographic diversification. However, Standard&Poor's Ratings Services believes these strengths are offset by the company's exposure to changing consumer preferences in the very competitive and marketing-intensive athletic footwear and apparel industry. NIKE is the largest seller of athletic footwear and athletic apparel in the world.
