Is Nike Abandoning Foot Locker As It Tests Jordan-Only Stores?

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Nike (NKE) – Get NIKE, Inc. Class B Report gives and Nike takes away.

Foot Locker (FL) – Get Foot Locker, Inc. Report owes a lot of its success to the rise of sneaker culture over the past decade plus. That culture has been driven by increased interest in Nike.

More specifically, the culture has been driven by interest in retro Jordans.

Michael Jordan’s iconic footwear brand has been good to both Nike and Foot Locker.

Six years ago former Nike CEO Mark Parker set a goal for Jordan brand to reach annual revenue of $4.5 billion. A year ago, the company saw unit revenue jumped 31% to $4.7 billion.

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