The competition between Nike and rival Adidas has been intensified

Another quarter of the fiscal season has passed, and Nike is still weak in the North American base camp. What’s more, the company suffered the first quarterly loss in 20 years.

Recently, according to the third quarter financial report issued by Nike in the 2018 fiscal year, the group achieved $8 billion 984 million in revenue as of the third quarter of February 28th, a year-on-year increase of 7%, but the net loss reached $921 million in the period, and the net profit of 2017 in the fiscal year 2017 was $1 billion 141 million. Among them, in the North American market, Nike’s three quarter revenue fell by 5.6% to 3 billion 571 million dollars. In China, Nike recorded an increase of 24.3% to 1 billion 336 million dollars in the quarter.

In response to a response to the deficit, Nike said the loss was mainly “because the United States issued a new tax reform bill in December 22, 2017 and an extra income tax expenditure of $2 billion in the third quarter,” the Nike group was up to 179.5% in the season and 13.8% in the 2017 fiscal year.

Leave a Reply

Your email address will not be published. Required fields are marked *