Supply disruption cuts Nike forecastBloombergNike Inc lowered its sales outlook as production and shipping delays hobbled the company’s efforts to meet strong demand for shoes and athletic wear. Sales this quarter could fall as factory closures in Vietnam prevent Nike from keeping up with consumer demand, the world’s largest athletic wear company said on Thursday. That means full-year growth would be in the mid-single digits rather than the low double digit percentage rate Nike targeted earlier. Nike does not expect the facilities to reopen until October, and they could require several months to ramp up manufacturing. Cuts in wholesale distribution have put renewed focus on Nike’s direct-to-consumer channel, which grew 25 percent this quarter on a constant-currency basis.

Source: Taipei Times September 24, 2021 07:07 UTC