As a result of worsening supply chain disruption in Vietnam, BTIG has downgraded Nike’s (NKE) rating from Buy to Neutral.
“We believe the risk of significant cancellations beginning this holiday and running through at least next spring has risen materially for NKE as it is now facing at least two months of virtually no unit production at its Vietnamese factories which accounted for 51% of footwear and 30% of apparel units,” said BTIG senior analyst Camilo Lyon, in a recent note.
Over the…
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