Nike's China Restructuring Highlights Challenges for Sportswear Sector
Dow Jones
Oct 05
0248 GMT - Nike's continued weak performance in China is potentially a double-edged sword for the sportswear sector, Nomura analysts Jizhou Dong and Summer Qian say in a note. The U.S. sportswear company's Greater China revenue fell 26% from a year earlier in its fiscal 1Q, and Nike expects continued weakness in the Greater China market. Nike's decision to combine Greater China with Asia Pacific under its new operating model highlights the challenges. While this could potentially create opportunities for Chinese brands, it also underscores persistent market headwinds.
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