NEW YORK, Dec. 19 (Xinhua) -- During one of the busiest shopping weekends of the year, Nike was the only brand to have a 30 percent discount on most of its footwear at Macy's famous Herald Square location in New York City, as "Nike is in a race for cash," reported The Wall Street Journal (WSJ) on Thursday.
Chief Executive Elliott Hill said after he took over in October that his top priority was clearing out the company's inventory. The company is slashing prices on its website so aggressively that it is not only risking its own holiday sales but also weighing on its retail partners, according to the report.
