Nike Announces Closure Of All U.S. Stores In Coordination With Social Distancing COVID-19 Efforts

By John Heerdink LinkedIn Disclaimer

As per reports, NIKE, Inc. (NIKE) is set to close all its Nike-owned stores in multiple countries around the world from March 16 through March 27, including in the United States, Western Europe, Canada, Australia, and New Zealand to control the spread of COVID-19. The customers can continue shopping for Nike.com and the Nike app, the company informed. Nike to continue to pay its store employees during the closure, as per sources.

“We are taking additional steps in other Nike-managed facilities, including the option to work from home, staggered work schedules, social distancing, and additional safety and cleaning steps to help protect and support our teammates,” the statement reads.

Nike’s company-owned stores in South Korea, Japan, most of China and some other countries to remain open and continue their normal hours of operations.

Nike and all the sports apparel giants are predicting a major hit from coronavirus. Adidas warned of a $1 billion hit to its China sales in the first quarter, this week as per reports.

NIKE, Inc. (NIKE) is the world’s top designer, marketer, and distributor of athletic footwear, equipment, apparel, and accessories. The Beaverton, Oregon based company offers products for a wide variety of sports and fitness activities. To learn more about NIKE, Inc. (NIKE) and to continue to track its progress please visit the Vista Partners NIKE Coverage Page.

 
 
 Vista Partners LLC (”Vista”) is a California Registered Investment Advisor based in San Francisco. Vista delivers timely and relevant insights via the website: www.vistapglobal.com with daily stories, weekly market updates, monthly macroeconomic newsletters, podcasts, & Vista’s proprietary equity and market research to help you stay informed and stay competitive. Vista’s mission is to invest partner capital while arming investors with a comprehensive global financial perspective across all market sectors. Vista also seeks to provide select issuers with actionable advice regarding fundamental development, corporate governance, and capital market directives.
 
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(Read Original Story: Nike is closing all its U.S. stores in response to coronavirus in Yahoo Finance)


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