Recently, the world's first Nike Rise retail concept store-Nike Guangzhou Brand Experience Store (hereinafter referred to as Nike Guangzhou) opened in Guangzhou and is committed to building a selection of exclusive member homes.
According to Nike's financial statements for fiscal year 2020 (June 2019 to May 2020) and the fourth quarter of fiscal year 2020 (March 1 to May 31), in the case where the global market has been hit by the epidemic, the fourth quarter is Revenue in the Chinese market increased by 1% year-on-year, making Nike the only region in the world to achieve sales growth. As the fast-recovering consumer market in China, Nike has launched an unprecedented discount promotion and inventory clearance activity in the past two months.
Revenue in the Greater China market increased by 1% year-on-year in the fourth quarter of fiscal year 2020, making it the only region in the world where Nike has achieved sales growth.
Nike also mentioned that the company will adjust the plan to re-approve the global market supply and demand. The specific methods for clearing inventory include adjusting short-term inventory purchase plans, implementing a "deseasonalized" inventory flow plan, transferring available inventory to digital platforms, targeted promotions and price reductions, etc., to accelerate the clearance of remaining inventory.
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