COVID-19: Nike Offsets Revenue Plunge with Online Sales

The brand said its online sales jump in China helped offset losses from temporary store closures
Posted March 25, 2020

Nike (Beaverton, Ore.) experienced a 30 percent increase in digital sales in China during the coronavirus outbreak, which helped its loss of revenue from thousands of temporary closures across China, reports Associated Press. Most of its 5000 stores there have since reopened.

Nike’s CEO John Donahoe said the company plans to follow a similar strategy for other locations. The company’s Western Europe-based and U.S. stores have been closed since March 16 and will reopen on a case-by-case basis across the U.S.