Solid sales for Nike in the US and Europe helped offset pandemic-related challenges in China and Asia-Pacific during the second quarter and underpinned a forecast-beating result for the sportswear maker.
Nike on Monday said it continued to manage the impact of supply chain disruptions across the marketplace, but chief executive John Donahoe said the company was, overall, “in a much stronger competitive position today than we were 18 months ago”.
Those supply chain disruptions were most notable in Asia, with the US-based company reporting that revenues in China and the Asia-Pacific and Latin America regions declined “largely due to lower levels of available inventory resulting from Covid-19 related factory closures”.
Although those closures had adverse effects across the company’s entire portfolio, management said North America and Europe, the Middle East and Africa experienced…
