Nike Inc logo

NKE - Nike Inc News Story

$137.81 4.3  3.2%

Last Trade - 07/05/21

Consumer Cyclicals
Large Cap
Market Cap £155.84bn
Enterprise Value £153.61bn
Revenue £27.56bn
Position in Universe 43rd / 6858

Nike to clean up used, returned sneakers and put them back on shelves

Mon 12th April, 2021 3:00pm
By Richa Naidu
    CHICAGO, April 12 (Reuters) - Nike Inc  NKE.N  said on
Monday it will start refurbishing sneakers - from Vapormaxes to
Reacts - returned by shoppers and selling them at cheaper
prices, a service offered increasingly by retailers to reduce
consumer waste.
    The Beaverton, Oregon-based company said it would clean up
gently worn, like-new or slightly imperfect sneakers by hand and
resell them "at a value for consumers" at certain Nike stores.
To qualify for refurbishment, the sneakers need to be returned
to Nike stores within 60 days of purchase.
    "Up to fifteen U.S.-based stores will carry Nike Refurbished
footwear by the end of April 2021, with plans to integrate more
of this product at additional U.S.-based stores in the coming
year," Nike said in a statement.
    Nike is continuing to explore future expansion of the
program to markets outside the United States.

 (Reporting by Richa Naidu; Editing by David Gregorio)
 ((; Follow me on Twitter;
 +1 312 636 8874))
© Stockopedia 2021, Refinitiv, Share Data Services.
This site cannot substitute for professional investment advice or independent factual verification. To use it, you must accept our Terms of Use, Privacy and Disclaimer policies.