Fashion United posted a quick overview about Nike’s latest numbers:
For the first quarter, Nike revenues of 11.6 billion dollars, were down 10 percent on a reported basis and 9 percent on a currency-neutral basis.
Sounds impressive, look at this:
Converse down by 14%
Wholesale down 8%
Nike direct revenue down 13%
I see why they’ve hired a new CEO (although being still profitable).