Nike makes major announcement that could save its troublesome business
Nike joins forces with an unexpected brand to grow its womenswear business amid declining sales.
Although Nike still ranks as the number one sportswear company in the U.S., it has faced many financial struggles over the last few quarters, risking losing its spot to emerging activewear brands that resonate better with today's society and consumers' needs.
In its latest conference call, Nike discussed its new strategy to return its business back to profitability. It said it plans to promote growth in its apparel sector by segmenting its business based on gender to better assess the needs of specific customers.
