Sporting goods – Nike knocks out the goods – economy


The world’s largest sporting goods group, Nike, has to reduce its significantly increased inventories, especially in North America, with price reductions. That puts pressure on the gross margin as well as the strengthened dollar, said the Adidas rival. The price pressure will be strongest in the fall quarter, when Christmas business is already beginning in the USA. The US group generates more than half of its sales outside of its home country. Nike had stocked up its own stocks – like its competitors Under Armour, Adidas and Puma, but also major retailers in the US – before the start of school after deliveries from Asia had been uncertain in previous years. Now the goods are piling up on the shelves.



Source link