Sports brand Nike suffers from a lack of sea containers

The sporting goods brand Nike has suffered in the past quarter from the global shortage of shipping containers, which slowed down the transport of shoes and apparel to the US home market from foreign factories. That led to a shortage of supplies, which led to lower sales in North America.

There were also delays in American ports, according to Nike. Sales in North America, the company’s largest market, were down 10 percent. Yet, sales in China on the contrary rose sharply.  The company’s total revenue rose 3 percent year-on-year to $ 10.4 billion in the third quarter of its broken fiscal year ended in late February.

Also the online sales increased by 59 percent. That provided compensation for Nike stores that had to close due to lockdowns in several countries against the corona pandemic. Net profit of more than $ 1.4 billion was achieved, which is 71 percent more than a year earlier. Here, Nike benefited, among other things, from cost savings.