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 and partners.”

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 geographies.”

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.

 

 

 

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