Nike'S Economic Slowdown

The sporting goods company of the United States said this week that

The number of new orders, including Taiwan and Hongkong, fell by 5% over the same period last year, confirming that the key market growth slowed down.

Charlie Denson, a brand executive, said that all retailers in China are facing the problem of slowing economic growth and overstock, and consumers are becoming more astute. Charlie Danson.

To analysts, "this is a natural change that we have experienced in many markets, so it is not surprising.

What is surprising is that the change is happening quickly, just like everything else in China. "

After the announcement of Nike's performance, its share price initially dropped more than 4% in after hours trading, and then rebounded slightly, eventually dropping 3.2% to $92.9 per share.

Eric Tresi, managing director of Janney Montgomery Scott (Eric Tracy), said: "most people know that China has some difficulties, but they did not expect the situation to deteriorate so rapidly."

Nike executives say they will work with retailers to clean up stocks, improve distribution through Nike stores, and adjust product designs according to the tastes of Chinese consumers, thereby "restarting" its market in China.

Danson said, "then everyone wants to know how long this process will take. I can not give a specific date. I can only say that I am confident that we are taking the right action."