Nike logs smaller profits, with poor performance in North America

Nike announced on Tuesday a drop in first quarter earnings on Tuesday on sales, pointing out that the heavy promotions in North America have reduced your profit.
Net income for the quarter ended Aug. 31 was $ $950 million, 24% lower compared to the same period last year.
Revenues were unchanged at $ $9.1 billion.
Sales increased in all regions except North America, where a strong competition in the retail industry led to great deals between sellers.
Nike also cited unfavorable exchange as a factor in weakening sales in North America.
In June, the company introduced a new global sales structure aiming at growth in major cities and speeding up the development time for new models and products in response to consumer demand.
The company also increased direct sales to consumers through digital systems and agreed to sell a limited number of products on Amazon.