How Nike Leaving Amazon Has Changed the Face of Retail
Nike (NYSE: NKE) is the biggest athletic company on the planet, with $39.1 billion in revenue for fiscal year 2019 and a market capitalization of $163 billion. That gives it the ability to make moves that smaller companies can't, and it also gives the company the opportunity to lead retail trends.
One intrepid move it recently made was to stop selling directly through Amazon. This was bold because current sentiment counts the Amazon platform as necessary for sales, since everyone is on Amazon. But Nike has pulled it off, and other companies have taken notice.
Although it seems Wall Street has forgotten, in 2017 Nike was facing some serious challenges. Rival Adidas (OTC: ADDY.Y) had taken over the top spot in U.S. sales, and Nike's stock price had flattened.
Source Fool.com
