What: As Nike accelerated its DTC growth, the brand has moved away from select wholesale partners and moved into the second phase of its marketplace strategy.

Why is it important: In pursuit of a direct-to-consumer strategy, Nike will begin testing Jordan-branded stores in North America in fiscal 2023.

Nike revenue grew 5% to $10.9 billion in the third quarter, on the back of 17% growth in Nike Direct and 22% growth in digital. Nike Direct made up 42% of the retailer's sales in the quarter, reaching $4.6 billion, according to a company press release.

Nike continues to push its DTC strategy, but also seeks to emphasize that wholesale is still a significant part of the company's business.

Nike plans for stand-alone Jordan stores