Nike (Beaverton, OR) said it would begin testing standalone stores for its Jordan brand in North America following the concept’s successful launch in China, the Philippines and South Korea.
The announcement was part of Nike’s third quarter earnings call. It comes as the footwear and apparel maker expands its direct-to-consumer strategy, which Foot Locker warns will have a significant impact on its bottom line. Over the past four years, Nike has reduced its wholesale accounts worldwide by more than 50 percent.
Highlights from Nike’s third quarter include:
- 3Q revenues were $10.9 billion, up 5 percent compared to prior year
- Nike direct sales were $4.6 billion, up 15 percent
- Nike brand digital sales increased 19 percent, led by 33 percent growth in North America
- Net income was $1.4 billion, down 4 percent