Nike's Turnaround in China, Jordan Brand Will Take Time
Dow Jones
Yesterday
1756 ET - Nike's road to recovery is a long one, executives say during a call with analysts. The company is reducing volume in certain businesses to try to deal with excess inventory. While executives hope this will help the businesses in the long-term, the actions are expected to hurt sales and profitability in the short-term, executives say. Nike plans to start doing fewer launches of its struggling retro Jordan brand to create a scarcity effect for customers, executives say. In Greater China, where sales dropped 26%, Nike is eliminating distribution through certain channels, which it hopes will cut down on deep discounts.
At the request of the copyright holder, you need to log in to view this content
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.