How Nike helped save $2 billion in sneakers sales
- by admin
The shoe company has sold nearly 4 billion pairs of sneakers since the first one was made in 2008.
And the shoes are selling well: the company sold more than 2.2 billion pairs in 2013.
But the company also has been plagued by a host of problems over the past two years.
Its stock has dropped more than 8% since the beginning of 2018, and it has been hit by the fallout from the Paris attacks and a string of other attacks that have killed more than 130 people.
The company’s stock has been trading at more than $140 a share, and analysts expect that to continue for some time.
The shoe giant’s stock fell 2.4% to $14.92 Wednesday on the Nasdaq, according to FactSet data.
The rise in stock price has coincided with a decline in sales, which has caused the company to report a net loss of more than a billion dollars for the year, or $2.4 billion.
In January, Nike said it expected to post a net profit of $1.8 billion in the first quarter of 2019, up from a loss of $3.3 billion in January.
Nike is one of the largest retailers in the world, with more than 3,000 stores.
The sneaker company has also been accused of suppressing its profit in recent years by limiting its sales to certain countries, limiting supply to specific markets and reducing the number of shoes that are sold at the same time.
The shoe company has sold nearly 4 billion pairs of sneakers since the first one was made in 2008.And the…