How Nike is surprisingly defying Trump's trade war with China via YahooFinance
For a company that has heavily relied on China to make its sneakers and apparel almost since day one, Nike is sure showing no signs President Trump’s nasty trade war with the country will shred its profits in the year ahead.
Nike’s latest earnings “were simply incredible for a brand in this environment,” said SW Retail Advisors chief and long-time retail analyst Stacey Widlitz on Yahoo Finance’s The First Trade. “The product in the last 18 months has done a total 180. We were in an environment that was all about Adidas, particular in Europe, and now Nike is back in the driver’s seat.Nike ’is a brand of China for China’Nike’s fiscal first quarter sales grew in every single product category, in each geographic region.
What’s somewhat more shocking is that Nike’s gross profit margins in the quarter gained 150 basis points from the prior year in spite of U.S. tariffs on China and rising costs in places like Vietnam and Indonesia as other industries uproot supply chains to these traditional retail production havens.
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