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Nike Revenue Dropped 38 Percent After COVID-19

Posted: Fri Jun 26, 2020 5:30 pm
by RealGM Wiretap

Nike posted a surprise loss and disappointing sales in the fiscal fourth quarter, which was a sign closed retail stores due to COVID-19 had a more adverse impact than forecasters expected.

Revenue declined 38% to $6.31 billion in the period, well short of the $7.38 billion estimated by analysts.

Digital revenue soared 75 percent last quarter, and nearly 80 percent.

Via Matthew Townsend/Bloomberg