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The inventory for the same period stood at $8.7 billion, which the company attributed to fewer units. In terms of brand performance, Nike saw a 3% increase in revenue, driven by growth in China. However, the brand experienced a decline in its North American market.
In contrast, Converse, another brand under Nike Inc (NYSE:NKE)., reported earnings of $588 million for the quarter. The brand marked its growth in Asia but also noted a drop in its North American revenues.
Matthew Friend, CFO of Nike Inc., expressed confidence about the company’s future prospects. He underscored Nike’s potential for sustainable and profitable growth moving forward.
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