What impacted Nike's selling expenses in Q3 2024?

Nike's selling expenses in Q3 2024 were impacted by several key factors: 1. **Shift in Sales Strategy**: Nike abandoned its store-based direct-to-consumer (DTC) strategy in 2021, which led to a temporary decline in sales. This move was aimed at creating a seamless, premium marketplace but ultimately resulted in reduced visibility and accessibility for customers. 2. **Increased Promotional Activity**: To counter the effects of the sales strategy shift, Nike increased promotional activity across its digital platforms. While this helped in the short term, it led to higher selling expenses as the company invested more in marketing and discounts to drive sales. 3. **Inventory Management Challenges**: Nike faced inventory challenges, particularly in its lifestyle franchises like Jordan, Air Force 1, and Dunk. The company had to clear excess inventory, which put pressure on gross margins and overall financial performance. In summary, Nike's selling expenses in Q3 2024 were impacted by a combination of strategic shifts, increased promotional activity, and inventory management challenges. These factors collectively affected the company's selling expenses and overall financial performance during the quarter.