Nike said sales of footwear in North America—its largest market—fell 2% in the latest quarter. Higher prices for Nike shoes weren’t enough to offset a 10% decline in sales volume, the first decline in more than a year. Del Shaffer, a Realtor in Charleston, S.C., used Nike running shoes for decades but last year traded his Free RN Flyknit for a pair of Hoka Mach 4 because he wanted something softer, with more cushioning. Innovation slogSome consumers and industry analysts say the pace of innovation coming from Oregon-based Nike is slowing. It is launching a new technology for running shoes that is expected to be ready for the 2024 Summer Olympics.

Source: Wall Street Journal October 22, 2023 09:06 UTC