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Nike Credits Tax Act With First Operating Loss in Decades

The Rivet 50 is calling for nominations for leaders in the denim industry in 5 categories: design, influencer, leadership, sustainability and supply chain. Nominations close on May 23.

Nike took a major operating loss in its third quarter thanks to the recently amended tax law, though the retailer still managed to beat expectations. In a nutshell: Nike Inc. was hit hard by taxes, seeing a $921 million operating loss—its first net loss in roughly two decades, according to ABC News. During the third…

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