Lifestyle brand Nike generated an 8.6 billion dollar (7.3 billion euro) second quarter turnover, 5 % more than last year’s second quarter. North American turnover is still under pressure however.
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"Anyone who does not differentiate, will lose out”, is Nike CEO Mark Parkers’ message to retailers. The sports brand wants to focus more on its own sales channels and will therefore make cuts in its distribution network.
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American sports brand Nike has achieved a higher-than-expected turnover in its fiscal year 2017, thanks to increased demand in Western Europe, China and several emerging markets.
The possible Amazon – Nike collaboration, which would lead to Nike selling its product range on Amazon itself, has caused turmoil among other retailers.
Nike wants to trim down, saying goodbye to 2 % of its staff. It has 70,700 employees worldwide, which means about 1,400 jobs will be cut.
A week after Brussels targeted American clothing brand Guess, Nike, Universal Studios and Sanrio are now also being examined. They all may have breached the European Union’s regulations regarding sales across borders and online sales.
In the third quarter of its broken fiscal year, American sports brand Nike has performed very well in Asia and posted an overall 5 % growth, even though it failed to live up to analysts’ expectations.
American sports brand Nike saw its second quarter turnover grow more than 6 %, as its profit also exceeded analysts' expectations. Particularly its performances in China and the US were excellent.
American sports company Nike 's turnover and profit grew in the past quarter, but nevertheless, analysts were not pleased with the results, because the current quarter's orders are not growing fast enough.
American sports brand Nike did not manage to meet expectations in its past quarter: both turnover and number of orders were below analysts' expectations.
Sports brand Nike opened its new Belgian distribution center, not only designed to be more efficient but also more sustainable. This distribution center will take care of everything related to Nike.com, Nike retail and its wholesale partners in Europe.
American sports brand Nike's third quarter was excellent, but despite this good performance, its share dropped as analysts expected an even higher turnover.