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authorities, was charged on Friday in the United States with engaging in drug trafficking and money laundering conspiracies. Guy Philippe, 48, faces a three-count indictment including conspiring to import cocaine into the United States, conspiring to launder money, and engaging in monetary transactions stemming from unlawful activity, the U.S. Department of Justice said. Philippe was ordered held without bond at a hearing before U.S. Magistrate Judge Barry Garber in Miami, the Justice Department said. The hearing came one day after Philippe was arrested in Haiti and extradited to the United States. An arraignment is scheduled for Jan. 13. The indictment dates from November 2005, and was made public on Friday. "The indictment speaks for itself," Richard Dansoh, a lawyer for Philippe, said in a phone interview.
The company has recently been struggling with increased competition from a resurgent Adidas and is facing pressure from Under Armour in its basketball division in North America. This has affected Nikes revenue growth over the last few quarters. Future orders in the year were down year over year. This has greatly affected investor sentiment. All in all, this was not the best year for the leading sportswear manufacturer. Future Orders Suffered Throughout The Year Nikes future orders have come in lower than expected in every quarter this year. The latest quarter witnessed the lowest future orders in the last five quarters. Future orders are a key metric used to gauge sales in the coming quarters; it is directly indicative of the demand for Nike products. To put this into perspective, in 2015, 87% of Nikes wholesale footwear shipments were made through future orders, as was 67% of Nikes U.S.
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