The unstable economy is causing all sorts of weird things to occur. As people are spending less on non-essential items, out of recession fears, retailers are finding themselves with excess inventory. Walmart and Target already said to expect a lot of discounts this season because of the excess they have in casual clothing and electronics, among other things.
Now, Nike has excess inventory they have to roll out. They announced they will be doing some major discounting in the coming days. When COVID hit, the factories that manufacture their goods shut down. When they replaced the items from the shutdown, Nike ended up with a lot of inventory at once.
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