Nike (NKE) Names GM & VP of Emerging Markets

Nike, Inc. (NKE) named Tom Peddie General Manager (“GM”) and Vice President (“VP”) of the company’s Emerging Markets area.

Prior to Peddie’s appointment, the post was held by Roland Wolfram. Wolfram will retire on Jan 9, 2015, after having served the company for 16 years.

Before being selected for this role, Peddie was working as VP of Global Sales with Nike. Moreover, this 24-year old veteran has held various other senior positions in the company’s global sales organizations, including VP Sales for North America and Asia Pacific.

Management believes that Peddie is most likely to take the company forward with his able leadership skills and strong history of enhancing Nike’s management strategies, internationally. His knowledge and experience are expected to complement the company’s goals of solidifying its brand, building robust customer bonds and expanding in premium markets.

Nike’s focus on expansion is evident as it continuously seeks opportunities for increasing its global footprint and market share. Over the years, it has acquired renowned brands such as Converse, Hurley and others. Another major tool used by Nike to broaden its ambit is the development of its direct-to-consumer business model.

Further, Nike enjoys a healthy financial status which supports its expansion and innovation strategies. Recently, the company hiked its quarterly dividend by 17% to 28 cents a share, marking its 13th year of dividend increase in a row, reflecting the management’s confidence in its future prospects.

Being the industry leader in the U.S. footwear and athletic apparel industry, this Zacks Rank #1 (Strong Buy) stock boasts a strong portfolio of globally recognized brands including Nike, Converse, Chuck Taylor, Hurley, All Star, One Star, Star Chevron and Jack Purcell.

The company’s commitment to innovation further provides it with a competitive edge over its peers like Adidas, Skechers USA Inc. (SKX) and Brown Shoe Co. Inc. (BWS).

Another stock looking attractive at current levels in the same industry is Deckers Outdoor Corp. (DECK), with a Zacks Rank #2 (Buy).

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