NEW YORK, United States: Nike cut its sales forecast on Thursday (Friday in Manila), pointing to myriad supply chain problems that are delaying deliveries of athletic gear and expected to crimp sales for the next few quarters.

The sports giant is dealing with a doubling of shipping times from its Asian manufacturing centers to North America, as well as closures of major factories in Vietnam and Indonesia due to local government restrictions because of Covid-19, Chief Financial Officer Matt Friend said on a conference call with analysts.

Premium + Digital Edition

Ad-free access


P 80 per month
(billed annually at P 960)
  • Unlimited ad-free access to website articles
  • Limited offer: Subscribe today and get digital edition access for free (accessible with up to 3 devices)

TRY FREE FOR 14 DAYS
See details
See details