With its market dominance it should trade at a premium to the industry. But right now, investors are thinking about Adidas and are concerned about Nike's international prospects. So a cap has formed on Nike's trading range.
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This clearly, in our opinion, will lead to a much more serious competitive environment than the industry has been exposed to in probably the last five years.
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They (Reebok) got a wake-up call in terms of Nike's announcement in terms of recognizing the need to improve the fashion content of their apparel business,
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