NEW YORK, June 26 ― Sports giant Nike reported a surprise loss yesterday as shutdowns due to Covid-19 prompted a big drop in revenues in spite of higher online sales. Nike reported a loss of US$790 million (RM3.37 billion) in the quarter ending May 31, which translated to a loss of 51 cents per...
Nike reported a loss of US$790 million in the quarter ending May 31. — Reuters pic
Nike reported a loss of US$790 million in the quarter ending May 31, which translated to a loss of 51 cents per share compared with analyst expectations for nine cents per share in profit. In North America, the company's biggest operating region, revenues plunged 46 per cent to US$2.2 billion.
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