Nike cuts sales outlook due to supply chain disruption 

Factory shutdowns in Vietnam, due to a Covid resurgence, are hitting sportswear makers hard

People carry Nike Inc. shopping bags in San Francisco, California

Nike has lowered its sales outlook as production and shipping delays hobbled the company’s efforts to meet strong demand for shoes and sportswear.

Sales this quarter may fall as factory closures in Vietnam prevent Nike from keeping up with consumer demand, the world’s largest athleticwear company said. That means full-year growth will be in the mid-single-digits rather than a low double-digit percentage rate Nike targeted earlier.