.Nike Inc. was thrown off its stride by weaker margins, a big build up of inventory and declines in China.
“Our ability to expand the world of sport and to create the future of sport itself is why I wouldn’t trade Nike’s position with anyone,” Donahoe said. “Consumers continue to rate us their number-one cool and number-one favorite brand and we connect directly and deeply with consumers worldwide.
It fell to chief financial officer Matthew Friend to go over the financial nitty gritty. He said: “This quarter it became clear to us the conditions in North America are shifting once again. Earlier orders by retailers driven by strong consumer demand and less predictable delivery timelines has led to elevated inventory levels broadly across consumer goods. Then transit times began to rapidly improve with signals that further improvement may be coming.
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