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After eight successive quarters of falling sales in China, Nike is pulling online sales rights from some of its biggest retail partners in a high-stakes bet that tighter control over pricing and distribution can revive its fortunes.
Nike (NYSE:NKE | NKE Price Prediction) currently trades at $42.96, well below Wall Street's average analyst price target of $51.12.
Nike will shift online sales to its official website and app, as well as its flagship stores on e-commerce platforms Tmall, JD.com and Douyin from January.
Nike is tightening online sales in China as it tries to restore pricing power and reverse a deepening decline in its third-largest market. From January 2027, most of Nike's 16 major Chinese retail partners will stop selling its products online and focus on physical stores.
The footwear giant continued to report flat revenue growth. Tariffs are pushing profit margins lower.
Nike is trying to lure back shoppers in China by controlling how its products are sold online, directing consumers to official Nike channels as the American sportswear giant continues to lose ground to domestic rivals.
Nike is planning to cut off thousands of online distributors in China and restructure its online presence to create a more consistent consumer experience. Beginning in January, the company will concentrate online sales through its own website and app, as well as official storefronts on Tmall, JD.com and Douyin.
AlTi Global Inc. lifted its position in NIKE, Inc. (NYSE: NKE) by 445.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,024 shares of the footwear maker's stock after buying an additional 27,781 shares during the
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