30 September 2022 | Other

Dollar strengthening causes Nike to cut sales

Nike is suffering declining revenues due to increasing logistics costs and strengthening of the U.S. currency. The company is now selling its excess inventory, spurring the sale with discounts.

There was a decline in revenues at the end of the previous quarter, with the fall by 22% registered in comparison with the previous year’s results. The company’s revenue was about $1.47 billion last quarter, which is 1.5 billion euro. The growth in sales was registered in the first quarter of the year, as there was a 4% increase to the level of $12.7 billion.

The volume of sales might have continued to grow if the exchange rates remained stable, with a supposed growth by 10%. Still, income from abroad turns out to be lower in balance when being converted into the U.S. dollars due to the strength of the U.S. national currency.

Company MarketCheese
Period: 25.07.2025 Expectation: 440 pips
AUDCAD gains on technical bounce and improved sentiment in commodity markets
Yesterday at 10:05 AM 28
Period: 25.07.2025 Expectation: 1700 pips
GBPUSD struggles to regain momentum as uptrend breaks
Yesterday at 09:14 AM 26
Period: 25.07.2025 Expectation: 222 pips
Buying natural gas with target at 3.780 amid record heatwaves in US and Asia
17 July 2025 62
Period: 25.07.2025 Expectation: 15000 pips
ETHUSD rally accelerates as US moves forward with crypto legislation
17 July 2025 65
Period: 23.07.2025 Expectation: 600 pips
USDCAD gains strength amid dollar rally and falling oil prices
16 July 2025 87
Period: 25.07.2025 Expectation: 1000 pips
Nvidia's return to China pushes shares toward 180 level
16 July 2025 78
Go to forecasts