High loss for the quarter: Corona-crisis hits Nike surprisingly strong

shops Closed down because of the Corona pandemic brought the world's largest sportswear manufacturer Nike is deep into the red. In the past quarter (up to end

High loss for the quarter: Corona-crisis hits Nike surprisingly strong

shops Closed down because of the Corona pandemic brought the world's largest sportswear manufacturer Nike is deep into the red. In the past quarter (up to end of may) fell to a bottom line, a loss of 790 million dollars (704 million euros), as the Adidas-rival, announced on Thursday after market close. In the prior-year period, Nike had still deserves to 989 million dollars.

The revenue plunged by 38 percent to $ 6.3 billion, primarily due to the temporary pandemic-related closure of many branches around the world. The digital business with Online sales grew by 75 percent, enough to compensate for the losses in the lame-laid retail.

Updated Date: 26 June 2020, 00:19

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