Recently, Nike announced that it will reduce some of the poorer brands. The company also stated that the increase in sales revenue in the first quarter and the increase in future orders resulted in a 51% increase in net income for the company in the quarter. In the quarter, the company’s total revenue increased by 11% to US$4.7 billion and its net income reached US$569.7 million. The second-tier brands only earned $628 million, and those brands that did not contribute enough to the company's long-term plans will become the company's focus. Brands that have been identified as being eliminated include the ice hockey brand Nike Bauer Hockey, while other brands under consideration include Converse, Nike Golf, Exeter, and Hurley. Nike's prospects in the US market are not optimistic, which can be inspiration from the difficulties experienced by its competitors Foot Locker and Finish Line in the retail industry. In the quarter, Nike’s sales in the United States grew by only 2%, and it is expected to reach 7.3%. However, Nike's performance in overseas markets is very good. The company's sales in Europe have achieved growth, especially in the UK, while sales in the Asia-Pacific region have also continued to grow, with China being particularly prominent.
Ningshing
Trading Group Inc. is a large-scale trading group with a history of more than
20 years, established in 1988. It is also a large clothing export company.
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Dept. is divided into three teams, mainly Mens Woven Shirts, Knitted Sportswear
and Women Gym Wear.
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more than 10 years of OEM service experience, with an experienced management
team, technicians and many cooperative Clothing and Fabric factories, with
strong sample development capabilities, we can produce according to customers'
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factories are fully equipped with modern machines for the production of
technically complex products.
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Sport Clothes materials, cutting, sewing, embroidery, printing, ironing to
finished products and shipping.
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Clothing and Fabric, Apparel and Textile, clothing export company Ningbo Ningshing Trading Group Inc. , https://www.ningshingshoes.com
Nike wants to cut second-tier brands with poor performance
Recently, Nike announced that it will reduce some of the poorer brands. The company also stated that the increase in sales revenue in the first quarter and the increase in future orders resulted in a 51% increase in net income for the company in the quarter.