REEBOK'S LAYOFFS ATTRIBUTED TO NIKE COMPETITION

     By laying off 150 employees last week, Reebok may have been
reacting to increased competition from rival Nike, according to
Chris Reidy in the BOSTON GLOBE.  Reebok announced the layoffs as
part of a reorganization that would cut $60M in overhead.  But
Stuart Bockler, an analyst at NJ-based International Marketing
Call, said Reebok "could be feeling the pinch of competition from
Nike."  Bockler: "Nike watched Reebok develop that (women's
performance shoe) market and now it's moving aggressively.  Nike
is diversifying itself to take a bigger piece of the pie."  Nike
recently "credited strong sales in women's fitness shoes" for its
51% rise in recent quarter earnings, while Reebok's revenues were
up 9%.  Bockler said he expects Nike's stock price, which closed
at 79 7/8 yesterday, to reach 95 in four to six months (BOSTON
GLOBE, 5/15).