SAN ANTONIO — Nike apparently has too much inventory and that's good news for its customers.
The apparel brand is cutting prices in its stores in an effort to free up shelves.
Nike said its inventory levels soared 65% in North America, which is its largest market.
Overall its inventory was up 44% last quarter when compared to a year ago.
Excess clothing is the main problem.
Nike plans to discount the items that are now out of season.
It will also move clothing to its own factory stores, promote them online, and sell more to discount stores like TJ Maxx.
Nike stock tumbled by double digits on Friday as investors worry about the brand's profitability for the coming quarters.
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