Nike reported a fall in new orders in China and said it would revamp its strategy in the country as investor concern over its performance sent its shares down.
The US sportswear company said on Thursday that new orders from its greater China region, which includes Taiwan and Hong Kong, were 5 per cent below their level a year ago, confirming a slowdown in a crucial market.
Charlie Denson, president of the Nike brand, said all retailers in China were grappling with a combination of slowing economic growth, excess inventory, and more discerning consumers.
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