Nike Reports Fall in New Orders in China

By Community | September 28, 2012

Nike has reported a fall in new orders in China, and said it would alter its strategy in the country as investor concern over its performance sent its shares down

The company said that new orders from its greater China region, including Taiwan and Hong Kong, were 5 percent below last year’s level.

Nike Brand President, Charlie Denson, said “This is a natural evolution that we’ve seen in many markets, so it’s not a surprise. What is a surprise, like everything in China, is how fast it got here.”

Nike shares initially fell more than 4 percent after market trading, but later recovered slightly to be down 3.2 percent at US$92.90. {jcomments on}

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