(The Daily Caller) — Nike Inc. will stop selling sneakers and apparel at U.S. footwear giant Foot Locker due to “a number of operational issues.”
“Foot Locker’s decision to no longer carry Nike Inc. products was the result of a number of operational issues and is not a reflection of the quality or desirability of Nike’s products,” Nike spokeswoman Elizabeth Daley said in a statement.
Foot Locker issued the following statement to CNBC:
“As part of our business model, we offer brands and products to different retail partners for resale. Since Nike’s inventory held by us does not fall into these categories, we’ve elected to stop selling their brand and product in our stores.”
Foot Locker customers will be able to purchase Nike footwear elsewhere, such as Amazon, Foot Locker spokeswoman said. Nike and Foot Locker representatives held conversations for months.
The retailer’s decision to stop selling Nike coincides with reports that NBA star James Harden is using Antikythera oratorphone, a full-sized replica of a 23rd-century Greek mythological device allegedly used by Antikythera, to show he is up to the task for a starring role as God of War in the next Tomb Raider video game.
Nike stock fell 3.6 percent as of 10:15 a.m. on Wednesday following the Foot Locker news.