Factory

Supply chain woes drag down Nike sales

Stacks of red Nike shoe boxes in a warehouse.

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

Retailers eye more air cargo as COVID lockdowns intensify in Vietnam

A Cargolux jumbo jet taxing at airport with Ho Chi Minh City apartments in background.

Big apparel and footwear merchants are increasingly trying to switch from ocean to air transport to make up for huge production slowdowns in Vietnam due to COVID and ensure seasonal imports arrive on time for holiday shoppers. Airfreight rates from the country are rapidly escalating because of the spike in demand for all-cargo charter capacity, according to logistics companies that manage freight movements.

The shift to cargo aircraft is underway as Vietnamese authorities, in response to rising...

https://www.freightwaves.com/news/retailers-eye-more-air-cargo-as-covid-lockdowns-intensify-in-vietnam

The US Manufacturing Industry Expands Quickly Even With Supply Chain Shortages

U.S. manufacturing expanded in February at the fastest pace in three years and a gauge of materials costs accelerated the most since 2008 as supply shortages challenge the industry, reports Bloomberg Quint.

Increased activity

A gauge of factory activity increased to 60.8 from 58.7 a month earlier, according to Institute for Supply Management data released Monday. Readings above 50 indicate expansion and the figure exceeded the 58.9 median estimate in a Bloomberg survey of economists.

At a time...

https://mfame.guru/the-us-manufacturing-industry-expands-quickly-even-with-supply-chain-shortages/

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