Biz Talk Ep. 7 | Why Nike Opening 30 New Stores Is Important

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During the last conference call for Nike’s impressive 11.2 Billion dollar quarter, the company announced that they would be opening 30 stores in 2021. They added they would be opening even more in 2022. The Nike Consumer Direct Acceleration is an impressive concept, but because Nike still has a considerable number of wholesale partners, I believe they will have to encroach not just on mom and pop shops, but on bigger accounts like FootLocker.

In this video I discuss the number of stores in bigger chains and explain why Nike has to continue opening doors to hit that elusive 50 Billion dollars in revenue mark.

Sources discussed in this video:
https://www.statista.com/statistics/241642/number-of-nike-stores-in-the-us-since-2008/
https://www.fool.com/earnings/call-transcripts/2020/12/18/nike-inc-nke-q2-2021-earnings-call-transcript/

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https://www.statista.com/statistics/975401/foot-locker-number-of-stores-us-by-type/

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https://www.statista.com/statistics/1020510/number-of-hibbett-sports-stores-us/