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Nike Credits Tax Act With First Operating Loss in Decades

Rivet's 2020 Denim Circularity report takes a deep dive into how the global denim industry is plotting its circular future amidst a worldwide pandemic.

Nike took a major operating loss in its third quarter thanks to the recently amended tax law, though the retailer still managed to beat expectations. In a nutshell: Nike Inc. was hit hard by taxes, seeing a $921 million operating loss—its first net loss in roughly two decades, according to ABC News. During the third…

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