Nike (NYSE: NKE) is a top apparel company that can command a premium for its sneakers, but that doesn't mean its business is infallible. The Oregon-based company recently announced that it would be shutting down its iconic factory store in Portland.

This isn't just a random location it's closing due to a slowdown in business -- it is the company's flagship location, which has been part of the business since 1984 and was its first factory store. Could this be a sign that Nike's upcoming earnings report may not be all that strong?

Last year, Nike announced it was temporarily shutting down the store due to safety concerns. But what started out as temporary has ended up becoming permanent this year.

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Source Fool.com