Nike will stop selling sneakers at one of America's largest shoe chains_老虎社区_美港股上老虎

Nike will stop selling sneakers at one of America's largest shoe chains

CNN Business2021-12-09

New York (CNN Business)You won't be able to buy Nike sneakers and apparel at one of America's largest shoe store chains in 2022. Nike announced it will stop selling to DSW as it cuts ties with many ...

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NareshwG
·2021-12-09
Good news for Foot Locker [Miser]
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That's hurt some independent sneaker and athletic shops, which rely heavily on selling Nike — the largest shoemaker in the world — to attract customers.\nDesigner Brands (DBI), the parent company of DSW, said on an earnings call Tuesday that Nike shipped the last of its products to the company in September. Once DSW sells them in stores and online, Nike will be gone from shelves.\nNike is DSW's largest athletic goods' supplier, accounting for about 7% of DSW's sales in 2020.\nNike (NKE) finance chief Matthew Friend said in September that the brand has \"exited about 50%\" of its retail partners since announcing this strategy in 2017. At that time, the company said it would focus its resources, marketing and top products on just 40 retail partners, including Foot Locker (FL) and Dick's Sporting Goods (DKS).\nSelling goods on its own website and physical stores nets Nike more than double the profit it would receive from selling through wholesale partners. 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