Industry Stock Market: Global Stock Market Plummeted Nike Shares Fell Nearly 16%

According to analysts from the US investment bank Cowen, the US sports wear giant Nike may be down 1/3 this quarter due to the closure of new stores, the disruption of supply chains and the suspension of the NBA season.

According to Refinitiv's IBES data, analysts had expected Nike to increase sales by 2.4% to 10 billion 430 million dollars and 64 cents a share in the fourth quarter of fiscal year ending May. And Cowen recently predicted that Nike's revenue will drop by 34% in the quarter, or about 4 cents per share.

John Kernan, an analyst at Cowen, said: "the flow of shopping centres may stop in the next few weeks. Fixed costs and future stock price promotions will create difficulties for Nike worldwide."

In the global stock market crash, Nike shares fell nearly 16%. As of Monday's close, Nike's share price was $67 per share. Since the beginning of this year, the market value of Nike has shrunk by 1/3.

At present, around 170 thousand people are infected with the new crown virus, and millions of lives have changed dramatically due to isolation measures.

In order to contain the spread of the epidemic, major sports alliances such as the NBA and the professional rugby league NFL suspended the season, while Nike, Lululemon and Under Armour also closed their stores in North America and other markets. (see "ornate ambition" for details: To cope with the spread of the epidemic, Apple and Nike have closed large areas outside China. )

Jonathan Treiber, chief executive of retail industry sales expert and marketing platform provider RevTrax, said: "cancel the impact of major sporting events on Nike and other brands, just as the impact of the US travel ban on travel companies."

Woozle Research, a London based research firm, is more pessimistic: in the next 3 to 6 months, Nike revenues may lose more than $5 billion 500 million.

According to Woozle Research's survey of about 120 major wholesalers and distributors of Nike in China, Europe and North America, from mid February to March 10th, Nike's sales in the world have dropped by 21%.

Nike's total sales revenue in the last fiscal year amounted to about $39 billion 120 million.