RetailDetail EU
Europe - EN
  • België - NL
  • Belgique - FR
  • Nederland - NL
  • Europe - EN
  • About us
  • Contact
  • Subscribe
  • Sign in user
  • News
    • Food
    • Fashion
    • Home
    • Electronics
    • Beauty/Care
    • DIY/Garden
    • Leisure
    • General
  • RetailDetail Plus
  • Events
  • Hunts
  • RetailHub
  • Advertising & Partnerships
    • EVENT PARTNERSHIPS
    • PRINT ADVERTISING
    • ONLINE ADVERTISING
RetailDetail EU
Europe - EN
  • België - NL
  • Belgique - FR
  • Nederland - NL
  • Europe - EN
  • About us
  • Contact
  • Sign in user
  • News
    • Food
    • Fashion
    • Home
    • Electronics
    • Beauty/Care
    • DIY/Garden
    • Leisure
    • General
  • RetailDetail Plus
  • Events
  • Hunts
  • RetailHub
  • Advertising & Partnerships
    • EVENT PARTNERSHIPS
    • PRINT ADVERTISING
    • ONLINE ADVERTISING
thumb
Written by Pauline Neerman
In this article
  • Companies Nike
  • Topics ExpansionFinancial results
  • Geography BelgiumUnited States
Share article
  • facebook
  • instagram
  • twitter
  • linkedin
  • email

Nike keeps investing despite falling profits

icon
Fashion30 September, 2022
Nike Rise Westfield London

Nike is feeling pressure on margins due to rising costs. Yet the sports brand continues to invest: its partnership with Zalando is expanding and in Belgium, the distribution centre is reaching 5,000 workers next month.

Collaboration with Zalando

Nike’s sales rose 4% last quarter to 12.7 billion dollars. Although that is more than expected, the sportswear retailer is paying a price for it. Rising costs are squeezing gross margins and the brand continues to perform weakly in China, causing earnings per share to fall 20%. Gross margins fell to 44.3% due to higher freight and logistics costs, lower margins at Nike Direct and unfavourable currency fluctuations.

In what was Nike’s first quarter, the brand did set the stage for another year of strong growth, according to CFO Matthew Friend. The expansion of the partnership with Zalando is evidence of this. By linking their Nike account to Zalando, customers in numerous European countries (including Belgium and the Netherlands) will now have access to a selection of products available only to Nike members. This way, they can also purchase the exclusive range on Zalando.

At its Belgian distribution centre in Laakdal, Nike will also pass the 5,000-employee threshold in October. Some 400 more employees currently working there as temps will be hired by the sports giant. The branch is continuing to look for more employees.

Stay up-to-date

Receive our free newsletters and do not miss out on the latest retail news.

Subscribe
logo

Nike is feeling pressure on margins due to rising costs. Yet the sports brand continues to invest: its partnership with Zalando is expanding and in Belgium, the distribution centre is reaching 5,000 workers next month.

More on Fashion
See more
  • icon
    Fashion24 March, 2023
    Galeria appoint Olivier van den Bossche as CEO

    The ailing department store group Galeria Karstadt Kaufhof has appointed Olivier van den Bossche as its new CEO. The Belgian, who has some history with constituents of the merger group, now has to lead the chain back to growth.

  • icon
    Fashion24 March, 2023
    Nike sees sales soar, but stocks sink margins

    Nike recorded an impressive 14 % sales growth in the past quarter, even though large stocks are eating away at its margins. The trainer giant says 2023 will be "volatile", but that it is prepared for that.

  • icon
    Fashion21 March, 2023
    Dutch Scotch & Soda files for bankruptcy

    Dutch fashion label Scotch & Soda has filed for bankruptcy for its domestic stores. Owner Sun Capital cites "serious cash flow problems" as the reason. The 200 shops the chain has outside of the Netherlands are not affected (yet).

Events
  • 20
    Apr
    RetailDetail Congress
  • 11
    May
    Fashion & Beauty Congress
  • 15
    Jun
    Human Resources & People Congress
  • 29
    Jun
    Food Congress
Most read
  • icon
    Fashion3 March, 2023
    LVMH eager for luxury merger with Richemont
  • icon
    Fashion15 March, 2023
    Zara increases its competitive edge over H&M
  • icon
    Food7 March, 2023
    Delhaize to sell all Belgian stores
  • icon
    Food9 March, 2023
    Week-long strike at Belgian Delhaize stores
Follow RetailDetail
  • socialFacebook
  • socialTwitter
  • socialInstagram
  • sociallinkedIn
footer-logo
RetailDetail, the leading b2b-retailcommunity in the Benelux, keeps retail professionals up-to-date by means of online & offline publications, retail events, inspiring retail hunts and the unique co-creation platform retailhub, where retailers and their suppliers can experience the future of shopping.
RetailDetail Mailing Address:
Kolveniersstraat 7, bus 26 
2000 Antwerp
Visiting address:
Stadsfeestzaal – Meir 78 
2000 Antwerp
How to reach us:
Directions
© 2023 RetailDetail
general conditions | privacy policy
+32 3 500 89 59 info@retaildetail.be
We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept All”, you consent to the use of ALL the cookies.
Accept All
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Non-necessary
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.
SAVE & ACCEPT