1. Department: Consumer Durables

Nike is discounting DTC prices to move inventory

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Nike is finding it more difficult to clear its inventory in light of current economic challenges and is resorting to discounting to boost sales. The athleticwear brand’s CFO  Matt Friend, said Nike plans to continue promoting its direct-to-consumer business. Nike’s business with wholesale accounts fell to 56 percent in May, down from 70 percent four…

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