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Nike Credits Tax Act With First Operating Loss in Decades

From new denim constructions, weights and washes to the steps global mills are taking to reduce impact, Rivet's SS23 In Season Look Book: Denim & Trims has everything you need to know for a successful denim season.

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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