Intesa Sanpaolo Launches €30.6 Billion Bid for Monte dei Paschi to Drive Italian Banking Consolidation 
J.P. Morgan Sees Major Upside for Prysmian as Optical Fiber Prices Surge 
Asian Currencies Mixed as Dollar Slips on Iran Peace Hopes and Fed Rate Outlook 
Astera Labs and Rocket Lab Surge After Nasdaq-100 Inclusion Announcement 
Japan Core Inflation Seen Steady in May Ahead of BOJ Rate Hike 
Changchun Targets EV Growth as China’s Auto Industry Consolidation Accelerates 
Japan Producer Prices Surge in May, Strengthening Expectations of BOJ Rate Hike 
EngineAI Files for Hong Kong IPO Amid Rising Demand for AI and Robotics Stocks 
Oil Prices Surge Above $93 as Trump Escalates Iran Pressure and Strait of Hormuz Tensions Deepen 
Honda Leadership Crisis Deepens as Retired Executives Challenge CEO Toshihiro Mibe’s Strategy 
ECB Keeps July Rate Options Open Amid Iran War Energy Price Risks 
Woodside Energy Acquires PetroChina’s Browse Stake, Expands Position in Major Australian Gas Project 
New Zealand Unemployment and Inflation Debate Intensifies Ahead of 2026 Election 
Gold Prices Slide Toward Second Weekly Loss as Fed Rate Hike Expectations Weigh on Market 
Gold Prices Drop as Strong Dollar, Rising U.S.-Iran Tensions Weigh on Market Sentiment 
OpenAI Eyes Massive 10GW Ohio Data Center Campus in Potential $500 Billion AI Infrastructure Deal 
Asian Stocks Slide as Tech Selloff Deepens and US-Iran Conflict Escalates 
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."
