The ratings on Beaverton, Ore.-based NIKE Inc. reflect its leading global position in sales of athletic footwear and apparel, its geographic and customer diversification, and its strong financial profile. Somewhat offsetting these strengths is the company's exposure to changing consumer preferences in this very competitive and marketing-intensive industry. NIKE continues to hold the No. 1 market share in U.S. athletic footwear and has strong positions internationally. NIKE has maintained its brand strength, and its U.S. market share remains significantly more than twice that of its nearest competitor. However, competition in this segment is intense, with Adidas-Salomon AG and Reebok International Ltd. (BBB/Stable/--), as well as many smaller domestic and international players. The company also sells active sports apparel, athletically inspired
