In a bid to trim costs by $2 billion over the next three years, Nike is set to slash hundreds of jobs, simplify product ranges, and embrace automation.
The move, costing up to $450 million, follows a mere 1% sales increase to $13.4 billion in the three months ending November 30th.
Global sales for Converse plunged by 11%, contrasting with a similar rise in Nike brand sales. While the US and Europe witnessed sales decline, China experienced an upswing.
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