NEW YORK, March 25 — Nike’s quarterly profits dropped following a rare sales decline in China due to the coronavirus outbreak, a hit offset somewhat by higher online sales in that market, the company announced Tuesday. The sporting goods giant, which had garnered double-digit revenue growth in...
Wednesday, 25 Mar 2020 07:07 AM MYT
NEW YORK, March 25 — Nike’s quarterly profits dropped following a rare sales decline in China due to the coronavirus outbreak, a hit offset somewhat by higher online sales in that market, the company announced Tuesday. During the peak of the Covid-19 crisis in China, 75 per cent of Nike-owned stores were closed in the country, but that hit was blunted by a 30 per cent jump in digital sales, the company said.
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