"We are reducing promotional days, reducing markdown rates and shifting closeout liquidation to our Nike factory stores," Matthew Friend, Nike CFO, said. It's having an impact, though.

Reducing Its Inventory And Shifting Excess Inventory To Factory Stores. Further, Nike continues to reduce its inventory, although at a slow pace, as inventory fell 2% year-over-year.

Nike, Apple close US stores as retail chains weigh coronavirus options. Some retailers reduce hours and services for next few weeks. By Ivan Pereira. March 15, 2020, 10:15 AM. 2:36.

Friend highlighted that "gross margins declined 440 basis points to 40.3% on a reported basis due to higher wholesale discounts, higher discounts in our NIKE Factory Stores, supply chain cost ...