Nike Forms Unit for Women’s Shoes, Clothes

Nike Inc., the world’s largest maker of athletic shoes and clothing, is forming a separate unit to focus on sales to women, one of its fastest-growing markets. Clare Hamill, 45, was named vice president of the new unit, effective immediately. Hamill, who has worked for Nike for about 19 years, will oversee the design, advertising and retail development of women’s clothing, shoes and equipment, the company said. Nike expects the women’s business to eventually generate 30% of annual sales, from about 20%, or $1.55 billion, at the end of its fiscal year in May. Nike plans to at least double spending on women’s products in the next year, as it introduces a high-priced apparel line and increases the number of shops it operates within department stores to 134 from 67. But shares of the Beaverton, Ore.-based Nike lost $4.75 to close at $42.13 on the New York Stock Exchange after a J.P. Morgan analyst lowered her estimate of the company’s U.S. footwear sales in the second half, citing overall sluggishness in the U.S. retail sector.