An athletic shoe includes a sole having toe, ball, arch and heel sections, corresponding to that of a foot and an upper secured to the sole, which includes two pairs of upwardly-tapered straps secured to the sole on opposite sides of its ball and arch sections, respectively, which provide improved support for the wearer's foot and which permits the accommodation of a relatively wide range of foot sizes. In addition, the shoe includes a unique, removable spike assembly which facilitates quick and easy mounting and removal of the spikes. The shoe is especially adapted for use as a competition track shoe.