Rob Banks
All posts from Rob Banks
Rob Banks in Rob Banks,

Nike Sales Impacted By Stronger Dollar

Nike shares dropped 3 percent during after hour trading yesterday after they claimed that a stronger dollar will negatively affect their quarterly results. The sneaker giant's 3rd quarter sales rose 13%, reaching 7 billion, however they would have reached 14% without the currency influence.

It would seem that Japan sales have also been affected by the headwinds, effectively dropping 9%. It's not the the only thing however. Nike expects the World Cup and other marketing costs to rise up more than 30%. It is their plan to use 3D printing technology across other areas of business, after having used it to create cleats for February's Super Bowl.