Cargo ships line up at the Port of Savannah. Ongoing logistical problems have become a drag on earnings at Nike, which said it is now paying five times as much to ship a container across the Pacific.
(AP Photo/Stephen B. Morton)AP
The global production model that Nike pioneered – and prospered from — has come back to bite the company.
Continued chaos in the shipping industry has become a significant drag on the company’s profit margins, Nike officials said Monday as part of the company’s fourth-quarter earnings report.
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