The turnover is $ 9.1 trillion, in line with previous year’s results, but slightly below analysts’ expectations. Net profit ($ 950 million) is down 24% on an annual basis. The first quarter results of the fiscal year are not those expected. The North American market inflicted a terrible blow because of Adidas’s aggressive competition. Here, the shoes lost 3% of turnover (from $ 2.5 to $ 2.4 billion). However, CEO Mark Parker, assures that “in 2018 growth will be ensured by the strength of our brand and the power of our innovative products.” The Nike Group presented with emphasis “Flyleather”, a material made up of 50% of the reuse of leather waste. According to the company, the fabric promises to be more durable and sustainable in the skin.
Nike, the first quarter is negative: drop in shoe sales in North America, profits collapse
