Nike's Mark Parker Promotes "Incredibly Exciting" Self-Tying Shoe

Nike CEO Mark Parker appeared on CNBC’s “Squawk on the Street” this morning from the company’s Innovation Summit in N.Y. and talked up the new self-tying sneaker. He said the product has been in the works 30 years with the "original idea, so here we are today." Parker: "This is incredibly exciting." He added there was a "write-in petition to Nike to power through and get the power laces in a product, so it's great to be able to put a product out there that is a step towards the future of adaptive performance." Parker said Nike has not set a price yet, and “that’s something that we’re working on.” The shoe is “coming out later this year so the pricing is still yet to be determined” (“Squawk on the Street,” CNBC, 3/17).