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Team Sweat is "an international coalition of consumers, investors, and workers committed to ending the injustices in Nike’s sweatshops around the world" founded in 2000 by Jim Keady. While Keady was researching Nike at St. John’s University, the school signed a $3.5 million deal with Nike, forcing all athletes and coaches to endorse Nike.
Nike, Inc. [note 1] (stylized as NIKE) is an American athletic footwear and apparel corporation headquartered near Beaverton, Oregon, United States. [5] It is the world's largest supplier of athletic shoes and apparel and a major manufacturer of sports equipment, with revenue in excess of US$46 billion in its fiscal year 2022.
One low production cost is the investment cost of materials to make a garment. Fast fashion invests in polyester and cotton fabric because they are inexpensive and durable. In 2020 polyester's global price per metric ton was $725 (or 32.9 cents per pound), and the global price for cotton in 2021 was 126 cents per pound.
For the quarter, Nike reported wholesale revenues growth that came in flat compared to the same period a year prior. The Street had been expecting a decline of 4% from the same period a year prior.
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NIKE Direct was down 9%, with NIKE Digital down 11% and NIKE stores down 5%. Wholesale grew 6% due to accelerated shipping timing from Q1 of fiscal '25, and EBIT grew 5% on a reported basis.
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