Sports Giant Nike: We Are Very Excited By The Recovery Of China And South Korea!

U.S. sports giant Nike said on Thursday that the global store closures caused by the epidemic will have a serious impact on their wholesale and retail businesses in the fourth quarter of this fiscal year (March may).

As of May 13, all of Nike's Direct stores in Greater China, as well as 95% of its direct stores in South Korea, have reopened, some of which have shortened their business hours. Although the passenger flow is still lower than the level of previous years, the high conversion rate and strong online channel sales largely make up for this impact.

John Donahoe, President and CEO of Nike, said: "we are very excited by the recovery in China and Korea and we will continue to deepen our relationship with consumers. In the current situation, consumers all over the world are increasingly aware of the importance of sports and healthy lifestyle. This is the key moment for Nike to strengthen in the long run. "

Since mid March, most of Nike's stores outside Greater China and South Korea have been forced to close, resulting in a sharp drop in sales and overstocking. Nike said it expects this to have a serious impact on the group's performance in various markets in the fourth quarter of this fiscal year. (the fourth quarter of this fiscal year is from March 1 to May 31, 2020)

Nike is gradually reopening some stores in 15 countries, including Germany, France, the Netherlands, Brazil and the United States, to ease the pressure of the blockade and resume sales. As of May 13, 40% of Nike's Direct stores in Europe, the Middle East and Africa were back in operation, 5% in Asia Pacific and Latin America (excluding Greater China and South Korea), and only 5% in North America were reopened.

While preparing to reopen its stores, Nike is also taking measures to ensure the safety of employees and customers, including promoting social distance and controlling customer flow, providing masks for employees, strengthening disinfection measures in products and production process, etc., and will maintain the social distance policy and health policy of distribution center.

Source: Gorgeous records Author: Jiang Fan