Sacrificing: Nike reports $790M Q4 loss as sales plunge

Even as online sales increased due to people being shut at home during Wuhan virus lockdowns, Nike reported a loss for the quarter ending May 31.

From Yahoo:

“Sports giant Nike reported a surprise loss Thursday as shutdowns due to COVID-19 prompted a big drop in revenues in spite of higher online sales.

Nike reported a loss of $790 million in the quarter ending May 31, which translated to a loss of 51 cents per share compared with analyst expectations for nine cents per share in profit.

Revenues tumbled 38 percent to $6.3 billion following huge declines in sales in most of the world.

In North America, the company’s biggest operating region, revenues plunged 46 percent to $2.2 billion.”

Read the whole story here.

DCG

https://news.yahoo.com/nike-reports-790-mn-q4-loss-sales-plunge-000342777.html

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GRIZZ
GRIZZ
8 days ago

The big plus is you can go to any Macy’s store and take as many nike products as you can carry for free.
Nobody will stop you.

Jackie Puppet
8 days ago

Can’t help but wonder how much of that was lost in the last few days of May.

The Kaepernick pic is perfect for the article.

Couldn’t happen to a more deserving company! 😁

Anonymous
Anonymous
8 days ago

How’s “woke” working for ya, Nike?
comment image

MarkyMark
MarkyMark
8 days ago

This is WONDERFUL news! Gillette, after their misandric ad, lost something like $8 BILLION when they “got woke”. We need to make sure that, if a company goes woke, we need to make ’em broke…

Kevin J Lankford
Kevin J Lankford
8 days ago

How many shoes can a person need any more,..since all their absurd restriction? Perhaps nike should switch production to face masks. Plenty of fools wearing them now. It would be laughable if so many weren’t falling for it. And the power mongers have no intention of letting up, but instead, pushing on with their crazy hoax.

truckjunkie
truckjunkie
8 days ago

GOSH-What a shame!!!! I’m sure there’s a lesson to be learned there,but I’m equally sure it’s a waste to think THEY’RE gonna learn it. I’ve decided not to play the “Let’s run ’em out of business” game anymore. THAT is how the Demo-Socialists operate,and I won’t March to their drummer.

Dr. Eowyn
Admin
7 days ago

But this won’t change Nike’s corporate policy. The new “woke capitalists” are more interested in virtue signaling than in profits.

TrailDust
Admin
7 days ago

Nike is “down for the struggle.”