Nike Inc. went. into a growing list of U.S. companies experiencing pressure with global supply chain disruptions stemming from the Covid-19 pandemic.
The sneaker giant on Thursday reported lower-than-expected quarterly earnings by analysts, saying sales were hampered by global congestion shortages and congestion at West Coast ports that delayed record flows. ownership more than three weeks. The company said it expects to capture lost revenue in the current quarter.
Nike said it is still affected by the virus from safety-related measures and locks in some areas.
“While we are optimistic about the pace of vaccine circulation and how this will allow the global economy to reopen soon, the effects of the virus will create short-term variability in the performance of our industry,” he said. head of finance Matthew Friend on the company’s employment call.
Nike’s revenue for the quarter ended Feb. 28 was $ 10.36 billion, a 2.5% increase from a year earlier. On a currency basis, North American revenues declined 11%, while revenues in Greater China grew 42%