Nike Shares Fall After Q1 Earnings Reveal Supply Chain Disruption
Nike (NYSE: NKE) reported results for its first quarter of fiscal 2022 that disappointed investors. The stock was down 6% on the day following the announcement as the company fell victim to global supply chain disruptions.
Nike noted that sales could have been better had it had the inventory that customers wanted to buy. The coronavirus pandemic and its effects range far and wide. These effects included forced temporary closures of Nike's manufacturing facilities in Vietnam and Indonesia to help slow the spread of the virus in those countries.
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Source Fool.com
