Nike’s Sales in North America Fails to Impress and Shares Decline

Nike Inc announced its quarterly revenue and for the first time in over a year it failed to defeat Wall Street estimates, as sales fell short of assumption in its biggest market of North America. The revelation sends its shares plunging 5% on Thursday. Shares of the largest sportswear maker of the world have attained nearly 19% this year, as investors encouraged its “Consumer Direct Offense” strategy which includes a focus on online sales, new launches and supply chain improvements to bring fresh products to shelves faster.

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