Precious Metals Rally as Silver and Platinum Outperform on Rate Cut Bets 
Apple Explores India for iPhone Chip Assembly as Manufacturing Push Accelerates 
Asian Currencies Slip as Dollar Strengthens; Indian Rupee Rebounds on Intervention Hopes 
Nike Shares Slide as Margins Fall Again Amid China Slump and Costly Turnaround 
Austan Goolsbee Signals Potential for More Fed Rate Cuts as Inflation Shows Improvement 
Citi Appoints Ryan Ellis as Head of Markets Sales for Australia and New Zealand 
Oil Prices Climb on Venezuela Blockade, Russia Sanctions Fears, and Supply Risks 
EU Delays Mercosur Free Trade Agreement Signing Amid Ukraine War Funding Talks 
South Korea Warns Weak Won Could Push Inflation Higher in 2025 
Trump Orders Blockade of Sanctioned Oil Tankers, Raising Venezuela Tensions and Oil Prices 
Silver Prices Hit Record High as Safe-Haven Demand Surges Amid U.S. Economic Uncertainty 
BoE Set to Cut Rates as UK Inflation Slows, but Further Easing Likely Limited 
U.S. Stock Futures Slip After CPI-Fueled Rally as Markets Weigh Economic Uncertainty 
Chinese Robotaxi Stocks Rally as Tesla Boosts Autonomous Driving Optimism 
Japan Exports to U.S. Rebound in November as Tariff Impact Eases, Boosting BOJ Rate Hike Expectations 
OpenAI Explores Massive Funding Round at $750 Billion Valuation 
Harris Associates Open to Revised Paramount Skydance Bid for Warner Bros Discovery 
Nike will no longer be selling its sneakers and apparel at Designer Show Warehouse, one of the largest shoe store chains in the U.S. By 2022, Nike branded products will not be in any DSW stores anymore.
The American footwear and sports apparel manufacturer has cut ties with a number of stores and DSW is included in the list. The move is part of Nike's strategy to boost sales by selling more of its products through its own brick-and-mortar shops, online stores, select retailers, and the Nike app.
As per CNN Business, Nike has cut off many traditional retailers and tightened its control on how its products are presented. Its decision to stop selling its sneakers and apparel may benefit the company but it hurt some of the independent shoes and athletic shops - especially those that heavily rely on earning profits from the sale of Nike items.
Early this week, DSW's parent company, Designer Brands Inc., stated during the earnings call that Nike had already shipped out the last batch of its products to the company in September. Apparently, once these items are sold, there will be no more shipments to look forward to and the brand is permanently gone from its store shelves.
It is easy to see why DSW will be hit hard by Nike's decision to pull out. The brand is DSW's largest supplier of athletic merchandise and accounted for around seven percent of DSW's 2020 sales results.
In September, Matthew Friend, Nike's finance chief, said that they have withdrawn from 50% of its total retail partners since 2017. He said they will only retain 40 retail partners including Dick's Sporting Goods and Foot Locker.
Nike is hoping it will earn bigger profits, perhaps double the amount, as it starts selling its goods on its own physical stores and online shop. The company will also be able to control the pricing of its products in this way so it has more opportunities to earn more.
At any rate, while they may be affected, DSW still believes it can recover and make up the revenue it will lose by boosting other top brands that it sells. WRCB-TV News quoted Roger Rawlins, Designer Brands chief executive officer, as saying during an analyst call this week, "We are getting strong results really across our entire athletic portfolio."
