Coronavirus forces Nike to close down half of
its stores in China
Nike, one of the biggest fashion brands globally, has
announced to temporarily close down half of its outlets in
China owing to the outbreak of coronavirus in the country.
The deadly virus, as per the latest media reports, has so
far killed over 560 people in China as the outbreak is
showing no signs of slowing down.
As far as the stores that are open are concerned, the
company said that it is working with reduced hours and
witnessing lower than planned retail traffic.
Speaking more on this, John Donahoe, CEO, Nike, said “First
and foremost, our thoughts are with the people affected and
we remain focused on the health and safety of our teammates
John added “Despite this difficult situation, Nike’s
long-term opportunity to continue to serve consumers in
Greater China with inspiration and innovation remains
exceedingly strong. At the same time, we continue to have
extraordinary brand and business momentum in all other
Here it is important to note that China was Nike’s
third-largest geographic market in its most recent fiscal
year with sales number touching US $6.2 billion.