--FILE--Pedestrian walks past the flagship store of Nike at Wangfujing shopping area in Beijing, China, 27 August 2012. Nikes flagship store in Beijing Wangfujings shopping area, which is the companys first flagship store in China, will be reportedly closed when its lease expires, and H&M will be the new lessee of this site. Nikes Wangfujing flagship store was opened in 2007. With an area of 1, 100 square meters, the store has three floors. Nikes sales are not bad and the company is reportedly willing to continue the rental. However, the local owner apparently prefers young and fashionable brands like H&M. Industry watchers in local media said that the Chinese sportswear market is still depressed and its attraction to consumers has decreased, even for first-class international brands. Nikes report for the second financial quarter of 2013 showed that from September to November 2012, its sales in China decreased by 11%, representing the largest decrease among its global markets.
