NKE

Nike, Inc.

104.96
USD
-0.94%
104.96
USD
-0.94%
82.22 173.37
52 weeks
52 weeks

Mkt Cap 134.12B

Shares Out 1.28B

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Nike Shares Tumble After It Reports 44% Surge in Inventories

Nike has said it didn’t have enough inventory to meet consumer demand for the past two years. Now, it has too much—and the sneaker giant needs to step up discounts to clear out items. The company on Thursday said inventories rose 44% to $9.7 billion in the latest quarter, and higher discounts and freight costs squeezed profit margins. Executives said they would mark down more goods, especially apparel, heading into the holidays.

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