Snarled supply chains and lost production from factory closures due to COVID are dampening Nike Inc.’s revenue growth through a combination of lost sales and higher transportation costs.
Nike (NYSE: NKE) reported $12.25 billion in revenues for the quarter ended Aug. 31, a 16% gain from last year that came in lower than analysts expected, and downgraded full-year guidance to mid-single-digit growth due solely to export and shipping difficulties that reduced product availability amid strong...
https://www.freightwaves.com/news/supply-chain-woes-drag-down-nike-sales-inventories