Source: Finance Wire
Original Source: CNBC/DOW JONES BUSINESS VIDEO
MARIA BARTIROMO, CNBC ANCHOR: Nike is deepening its food hold around the world. The athletic apparel and footwear maker plans to open 100 stores globally over the next three years. Half of those new stores will be in the United States. The stock closing at a new all-time high today; take a look, $101.18, up 1 3/4 percent.
The announcement released today at Nike`s first analyst meeting in 16 months. CNBC`s Darren Rovell is at the company headquarters in Oregon with a special "First-on-CNBC" interview -- Darren.
DARREN ROVELL, CNBC REPORTER: Hi, Maria. I am here with Mark Parker, the president and CEO of Nike.
And Mark, $23 billion, that`s your projection for 2011. How do you get there?
MARK PARKER, PRESIDENT & CEO, NIKE: Well, we get there by doing what we`ve always done I think well and that`s focus on the consumer. We are breaking the company down into more focused segments by running, and basketball, and soccer, and men`s training, and women`s fitness, and sport culture. Those happen to be the big growth drivers for Nike going forward. So I think if we`re able to focus on the consumer and provide really compelling consumer experiences, we`re going to see that number.
ROVELL: A lot of buzz about those retail locations, only potentially 50 in the United States. How do you kind of gauge what you do with the retailers and make sure that you don`t upset what they do and work with them?
PARKER: Well, our retail strategy is all about working with our wholesale partners. We`re not becoming a vertical retailer. We are actually extending our commitment into vertical retail a bit. And the intent is actually to put Nike in a better position, to be a better wholesale partner, and create a more compelling experience for consumers.
ROVELL: You acquired a lot of those sub-brands that you have now: Converse, and Hurly, and some of the others; secured a billion dollar line of credit in December. What are you looking at from an acquisition standpoint?
PARKER: Well, we`re looking. We`re actively looking. We don`t have anything specific on our sights that I can talk to you about today, but I think it`s only the responsible thing to do, is to look at how we might use the acquisition route to generate some more growth potential for the company. So we`re actively looking.
ROVELL: As president on CEO, how much would you watch your stock price and how often? And do you believe the stock and the stock market is rational?
PARKER: I don`t watch the stock on a day-to-day basis. I really watch the consumer. I think our success as a company is really looking at how we can actually create a more compelling experience for the consumer. The stock price will follow from there.
ROVELL: A quick answer on this one, Crocs, Under Amour, everyone`s looking for the next thing. Is there room for everyone or do they cannibalize your share in the marketplace?
PARKER: I think there`s room for everybody. I think our strategy is really segmenting our business to grow the business. And again, working with our retail partners is -- and then investing somewhat in our own retail is the way to do that.
ROVELL: OK. And what about private equity? You know some -- we`re talking about 10 billion, $20 billion acquisitions. Do you think Nike could ever be acquired?
PARKER: That`s not in our plans, no. We`re actually very focused on growing our company. We think the $23 billion target is well within our sights; and very excited about doing that ourselves.
ROVELL: Thanks so much for joining me today.
So, Maria, the talk on the Street might be who is this next Nike? But Nike is saying we are Nike, keep focused on us. Back to you, Maria.
BARTIROMO: All right, Nike is the next Nike. Thank you very much. Great interview there, we appreciate it. Darren Rovell inside at the Nike`s analysts` meeting
