and said it would cut prices to clear out stockrooms. Nike now has more than $9.3 billion in footwear and apparel on its balance sheet.
"Inventory levels are going to be key ," Brian Yarbrough, an Edward Jones senior research analyst, told Insider."Any time you're very promotional like you are right now, then the issue becomes: Can you go back to full price?"China's also a primary concern for Nike. The country's size, rapid growth, and digital-savvy consumers make it a critical, high-margin market for sportswear brands trying to grow sales.
"It's all about China," Poonam Goyal, senior e-commerce and athleisure analyst for Bloomberg Intelligence, told Insider."China is a growth engine for a lot of these athletic brands, not just Nike. Where is the next leg of growth going to come from? It's going to come from China. If we don't start to see a recovery there soon, it's going to prolong their growth profile.
"We believe that China remains a growth market with significant potential to unlock," he said."Our team has just done a phenomenal job over the last 10 weeks, but also over the last several years.", who previously worked as CEO of Puma, could reinvigorate the rivalry with Nike.
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I won't buy it either just now family and friends will see me in them. ADIDAS FOR EVER.
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