The New Nike Sneakers Helping The Swoosh Get Back On Its Feet In America
After suffering through a slump in the U.S. through much of 2017, Nike is now growing again on its home field—its most important source of sales and the world’s biggest sneaker market. The company announced yesterday (June 28) that quarterly sales in North America grew about 3% versus the same period last year. It’s a modest increase, but given that the region makes up about 40% of Nike’s business, it was an important one. Combined with Nike’s continued strength overseas, especially in China, and its thriving direct-to-consumer business, the growth helped lift Nike’s total sales 13% for the quarter. A few factors boosted Nike in North America, including its strong digital business and healthy sales of apparel. But Nike is, of course, foremost a sneaker business, and as CEO Mark Parker pointed out on the company’s call with investors, its newest sneaker styles are playing a part in the company’s return to growth. Smartly, Nike has been sure to push the newcomers as lifestyle sneakers as much as performance products, matching what customers want today. They seem to have shoppers excited about buying Nike shoes again. Read more at Quartz.
