Nike experiences rare slump in online sales

Shalaka Shinde

This report summarizes the quarterly fluctuations in Nike’s direct-to-consumer sales.

Nike has revealed a rare year-on-year decline in online sales in its latest earnings report for the quarter ending 29 February 2024. The slump marks a shift in focus, with the company set to prioritize growth in multi-brand stores that are not Nike-owned, also termed as wholesale, and divert focus away from its direct-to-customer (DTC) program launched in 2020.

“We're increasing our investment in wholesale to help us elevate and grow the entire marketplace," said John Donahoe, President and CEO at Nike, during an earnings call with investors.

The drop may be explained through...

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