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

With pent-up demand, speed to market has never been more important. But port congestion, tariff impacts, the Uyghur crackdown and Covid uncertainty is making it difficult to restock the racks. Join Sourcing Journal on July 8 at 2 pm ET to learn how to sidestep the worst of the logistics roadblocks.

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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