AMZN stock is in the red on Wednesday after Nike Inc (NYSE:NKE) said it would stop selling its products directly to Amazon (NASDAQ:AMZN).
Nike Ends Two-Year Pilot ProgramThe sportswear giant has said that it is ending a two-year pilot program that saw it sell its merchandise through Amazon in an effort to focus on its own direct-to-consumer operations. The partnership was initially announced in 2017 in an effort to reduce the number of third-party and counterfeit sales but has now been terminated, with Nike citing a lack of direct involvement with the program as a ...
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