Nike posts $11B quarter and plans for 30 new stores

Retail Dive

While most retailers are playing catch up, Nike plans to capitalize on its quick recovery to drive further investments.

Revenues in wholesale were down 14%, with the company reducing its undifferentiated retail partners in North America by 30% over the past three years, Telsey Advisory Group analysts said in emailed comments. Wholesale has taken a backseat in Nike’s strategy, and the plan has also led to layoffs at the retailer’s headquarters.

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