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Nike Shrugs Off $790 Million Loss With Lofty Goal to Bring 50% of Sales Online

Where are fashion’s priorities? How sustainability will fare post pandemic is just one of many open questions. Join SJ on July 15 at 11 am for a webinar on how the crisis will affect future sourcing decisions and how to better measure progress.

Nike saw fourth-quarter revenue drop 38 percent year-over-year to $6.31 billion alongside a net loss of $790 million as the athletic apparel and footwear giant’s results were significantly impacted by store closures across the North America, EMEA and APLA (Asia-Pacific and Latin America) regions. In total, 90 percent of Nike-owned stores were closed for roughly…

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