On "Moneyline" Friday, CNN's Willow Bay reported that
Nike "is spending big money to prove it can still 'do it.'"
Nike "shells out more than" $1B each year on marketing, and
"it appears the strategy is paying off," as 13 of the 14
analysts who cover Nike "rate the company with a buy." But
despite the "glitzy ads, the all-star endorsements and the
recent stock surge," shoe companies, including Nike, have
"watched their treads wear thin in recent years."
Meanwhile, Nike Chair & CEO Phil Knight, said, "I think that
clearly the biggest growth in the future is coming outside
of the [U.S.]. ... For the first time, the orders six-months
in advance are bigger than outside the [U.S] than they are
inside the [U.S.]." Knight: "I think basically women's
fitness and women's athletics is a growth area by and of
itself, and that's home base for us" ("Moneyline," 9/8).
OVID: In Portland, Andy Dworkin reported that Nike is
"trying to resurrect sluggish shoe sales" with the Ovidian,
a "reversible sneaker" named after Ovid, the late Latin poet
whose "masterwork 'Metamorphoses' tells a history of the
world's changes." Nike's "translation of Ovid has leather
on one side, mesh canvas on the other, and a supple rubber
sole," as well as a "slipperlike insert" called a "booty."
Nike will sell "only" 10,000 pairs of the $85 shoe via
nike.com, select retailers and at NikeTown (OREGONIAN, 9/9).
THEY DIG MRS. JONES: USA TODAY's Michael McCarthy
reports that consumers "clearly ... dig" Nike's "Mrs. Jones"
ad campaign featuring U.S. Olympic sprinter Marion Jones.
USA TODAY's Ad Track notes that 33% of those familiar with
the ads like them "a lot," compared to the Ad Track average
of 22%. Additionally, 35% think the spots are "very
effective," compared to the Ad Track average of 24%. The
spots "score the highest with women and African-Americans."
Meanwhile, Nike VP/USA Marketing Mike Wilskey "even seems
pleased that 17% 'dislike' the ads." Wilskey: "Anything
that hits a nerve is polarizing" (USA TODAY, 9/11).
