Why Nike's Global Success Is Changing Retail
Nike's (NYSE: NKE) recent fiscal third-quarter report was a slam dunk. Although sales growth came in lower than the prior-year period, revenue was up 5% year over year despite the coronavirus turmoil.
The athletic footwear leader's digital strategy was the main growth driver, but its global strategy played a strong role as well and will continue to help the company lead its industry.
Other markets offset the losses in China during the period of store closures, and with 80% of stores already back open, Nike is seeing a huge uptick in sales there. So as the rest of the world has shut down, the surge in China can offset some of the losses in other markets.
Source Fool.com
