What a Surprise: Fans Ditch Tiger Woods Nike Clothing (NKE)

Sales of Nike's NKE Tiger Woods apparel have declined, according to retailers Golfsmith International Holdings Inc., Roger Dunn Golf Shops and Golf Discount Superstore. A Bloomberg report notes that "Golf apparel sales overall are on the rise, signaling consumers are returning to the course, just not to Woods. Nike gets about 10 percent of its golf sales from the Woods brand, whose shirts, jackets and pants are among the most expensive clothing the sportswear maker sells." Tiger Woods has seen his endorsements and career on the golf course deteriorate since news broke that he was unfaithful to his wife last year. Their divorce was made final on Monday. Through it all, Nike has been steady in its commitment to Woods. It's not difficult to see why: nearly $650 million in annual revenue is tied to Nike Golf. The division was virtually unheard of until Nike signed Woods to an endorsement deal. “We support Tiger and never underestimate his abilities as a competitor,” Nike spokeswoman Beth Gast said in an e-mail to Bloomberg. “He’s a phenomenal athlete with over 70 wins on the PGA Tour and 95 wins worldwide.” She declined to comment further. Woods’s representatives did not return calls or e-mails seeking comment. Nike shares are down 1% this afternoon, to $70.27. The Futures & Forex Expo is approaching. Learn Free Money-Making Strategies to Use Now