Nike said that it will "change how it works with retailers over the coming years, focusing on just a few dozen of them as it works through a challenging market for sportswear makers," according to Sara Germano of the WALL STREET JOURNAL. In presentations to investors on Wednesday, Nike execs "emphasized the company’s ongoing plans to sell more goods digitally and directly to consumers." Nike plans to "continue working closely with 40 partners, ranging from brick-and-mortar standbys" like Foot Locker and Nordstrom to "newer partners like Amazon and online luxury boutique Farfetch, on new apps and in-store experiences" (WSJ, 10/25).
LOOKING AHEAD: CNBC's Sara Eisen reported investors liked the fact that three-quarters of Nike's projected growth "is going to come from international." That currently accounts for around half of growth right now. Nike Chair, President & CEO Mark Parker said, "China's a really critical market, and it's a big part of that growth potential. But we also see that in Asia-Pacific, Latin America and then of course Europe." He said that the "appetite for Nike in China, as the No. 1 brand, is incredibly strong." Parker added that Nike's partnership with Amazon is "still in the pilot stage," and the company is "still conversing on how to best move forward." Parker: "We're encouraged and we've seen a lot of learnings on both sides over the past few months" ("Closing Bell," CNBC, 10/25).