Nike’s North America sales fail to impress

  • News Digest

Mar 23, 2019-

NEW YORK: Nike Inc reported quarterly revenue that failed to beat Wall Street estimates for the first time in over a year, as sales fell short of expectations in its biggest market of North America, sending its shares tumbling 5 percent on Thursday. Shares of the world’s largest sportswear maker have gained nearly 19 percent this year, as investors cheered its “Consumer Direct Offense” strategy that includes a focus on online sales, new launches and supply chain improvements to bring fresh products to shelves faster. The company has launched timed, limited-edition sales on its app, often in collaboration with celebrities and athletes, called “drops,” generating hype around its brands. (REUTERS)

Published: 23-03-2019 21:17

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