Nike Posts Quarterly Loss After Virus Forced Store Closures

Photo: Pamela Hassell

Nike reports large financial losses and lower sales in the fourth fiscal quarter. The company's revenue decreased by 38% to $ 6.31 billion over this period. Last year the company had such results in 2013. Despite the fact that during the widespread quarantine, Nike began to actively invest in online platforms, revenue from online sales grew by 80%, but this was not enough to compensate for the decline. However, about 90% of the stores currently operate. and the company plans to restore sales in the second half of the year.