The ratings for Nike Inc. are based on the company's strong No. 1 market share in U.S. athletic footwear and its leading positions internationally, as well as its solid financial profile. Somewhat offsetting these strengths is the company's exposure to changing consumer preferences in this very competitive, marketing-intensive industry. After several years of sluggish results in the U.S., Nike's footwear business in this important market is showing signs of life due to new product introductions in the mid-priced segment (about $65-$85 per pair). This segment is where Nike has been somewhat underrepresented and competition there is intense with Adidas and Reebok, as well as with many smaller domestic players. However, Nike's brand strength persists; its U.S. market share continues to
