Nike has announced that it will be purging its elite swimwear division, but denied that it was as a result of the success of competitor Speedo. Speedo’s LZR Racer was the brand of choice of Michael Phelps and was the weenie-bikini of choice of 72 lesser previous world champions. Nike was brusque as it exited through the back door:

“We will not invest in next-generation swim innovation, which is not in line with our stated category growth strategy.”

Boo hoo.

[ Yahoo Finance ]