Nike store closures in China could impact results

Greater China
Published:  05 February, 2020

The global sportswear manufacturer has provided an update on the impact the coronavirus in China is having on its operations.

Nike has temporarily closed nearly half of its stores in Greater China, with a similar situation relating to partner stores, where its products are distributed. Operating with reduced hours, the sportswear Group is experiencing lower than planned retail traffic in stores that do remain open and said it expects the situation to have a material impact on its operations in the region. “However, Nike’s brand and business momentum with the Chinese consumer remains strong, as reflected in the continued strength of our Nike digital commerce business”, said a statement.