1. Department: Consumer Durables

Nike says better profitability is on the horizon as net income edges down in Q1

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Dive Brief

Chief Financial Officer Matt Friend said the retailer expects to be “a more direct and a more digital company and a more profitable company” going forward.

Published Sept. 29, 2023

A Nike storefront at The Grove shopping center in Los Angeles, California.

A Nike storefront at The Grove shopping center in Los Angeles. Revenue at Nike grew 2% year over year in the first quarter, with digital also up 2% and Nike Direct revenues up 6%.

Cara Salpini/Retail Dive

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