That has resulted in having a few seasons' worth of merchandise available at the same time. Nike executives said its inventory in North America alone grew 65% compared to last year, reflecting a combination of late deliveries for the past two seasons and early holiday orders that are now scheduled to arrive earlier than planned. "As a result, we face a new degree of complexity," Friend said on the call with investors on Thursday, adding that Nike will look to clear inventory for specific pockets of "seasonally late products," especially apparel. The Nike executive noted that this, mixed with consumers facing greater economic uncertainty, promotional activity has accelerated across the marketplace, especially for apparel brands. When in-transit shipping time began to improve quickly, Nike CFO Matthew Friend said, it led to swelling inventories. $12.27 billion expectedĪs delivery times and consumer demand rose this year, retailers responded by ordering inventory earlier than usual. Here's how Nike did in its first fiscal quarter compared with what Wall Street was anticipating, based on a survey of analysts by Refinitiv: Nike and other retailers have been facing supply chain headwinds, such as increases in shipping times and costs, and Covid-related store closure disruptions. Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit
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