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Opinion
Andrea Felsted

Nike’s Slowdown in the US Should Worry Investors

The sportswear giant saw sales slow in its biggest market. That’s going to be more worrying as shoppers rein in their budgets.

Do it?

Do it?

Photographer: CHANDAN KHANNA/AFP

Nike Inc.’s sales slump in China is capturing attention. But it’s the slowdown in North America that should worry investors.

On Monday, the world’s largest sportswear company reported a 20% fall in sales, excluding currency movements, from greater China in the three months to May 31, as Covid-related disruptions affected 60% of its business in the country.