22 Jul Nike Optimistic For Sales Rebound in North America
Nike Inc expects sales growth to recover in North America after a weak March-May quarter, helped by the upcoming Olympics, an expansion of its basketball business and clearing excess stock, brand chief Trevor Edwards told Reuters.
The world’s biggest sportswear maker last month reported flat sales in its home region for its fiscal fourth quarter, its worst performance for over six years amid strong competition from Adidas and Under Armour .
However, Edwards said he was hopeful for an improvement for the current fiscal year ending May 2017, after the company managed to shift excess stock, adding Nike also expected a boost from next month’s Olympics in Rio.