“Nike is a Chinese brand and for China” – .

“Nike is a Chinese brand and for China” – .

Nike CEO John Donahoe defended the company’s activities in China this week, saying: “Nike is a brand that is from China and for China” following a consumer boycott in the country .
Donahoe made the remark during a call with Wall Street analysts on the company’s fourth-quarter earnings when asked about competition from Chinese companies, the BBC reported.

Nike sparked a reaction in China in March after issuing a statement expressing concern over reports of forced labor in the Xinjiang region.

Other Western companies have also expressed concerns about the forced labor of minority Uyghurs in cotton production.

“Nike does not source products [Xinjiang] and we have confirmed to our contract suppliers that they do not use textiles or yarns from the region, ”Nike said in a statement at the time.

Nike had a strong fourth quarter, with total revenue of $ 12.3 billion and profit of $ 1.5 billion. In addition, sales in North America increased 141% year-over-year, equivalent to $ 5.38 billion.

Sales in China were slightly lower than expected, with Nike reporting revenue of $ 1.93 billion instead of the $ 2.25 expected by analysts, Fox Business reported.

Donahoe in this week’s appeal expressed optimism about business in China, noting that “tToday we are the biggest sports brand out there, ”according to the BBC.


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