Nike's turnaround stalls as China sales decline and rivals gain ground
By
Phil Wahba
Summary
Nike's quarterly earnings show the company is still struggling despite some positive signs. While North America saw modest 3% revenue growth driven by footwear and restored wholesale relationships, the company faces significant challenges including big sales declines in China and loss of market share in running shoes to competitors like On and Hoka. The article portrays a company making unforced errors and struggling to execute a turnaround.
Source
bskyNike's turnaround stalls as China sales decline and rivals gain groundfortune.comKey quotes
· 3 pulledNike isn't turning the corner just yet.
The sports gear giant's quarterly results this week showed a company still tripping over its own unforced errors, undercutting whatever progress it's made toward a comeback.
But big sales declines in China, the loss of market share in areas like running shoes to brands such as On and Hoka...
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