Chief Financial Officer Matthew Friend told analysts on a post-earnings call that Nike's revenue growth would have been even stronger over the holiday period had Nike had enough merchandise on hand to meet shopper demand. All of its factories in Vietnam are now operational, he said, following pandemic-driven shutdowns that stalled manufacturing. Transportation times, however, remain elevated, particularly in North America. Friend said that Nike has moved up its buying timelines in order to have enough products on shelves for later this fall. As of Feb. 28, Nike said inventories on its balance sheet totaled $7.7 billion, up 15% from the prior-year period, in part due to ongoing supply chain disruptions that have elongated transit times, the company said. The bloated inventory levels were partially offset by robust consumer demand, it said. Nike's gross margins increased slightly to 46.6% from 45.6% the prior year, thanks to more full-price selling.