Nike’s Revenue Pinched by Supply-Chain Disruptions
The Covid-19 pandemic has caught up with Nike Inc. The sneaker giant’s revenue growth is being limited by supply-chain disruptions that have slowed the production and delivery of shoes and other goods around the world.
Nike on Thursday reported revenue of $12.25 billion for the quarter ended Aug. 31, up 16% from a year earlier and essentially flat with the June quarter. The results were below expectations of Wall Street analysts, who had expected revenue to reach $12.47 billion.
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