Nike Turns The Lights Back On In China & South Korea

By John F. Heerdink, Jr.

As per reports, NIKE, Inc. (NIKE)  is stated that they reopening 100% of its company-owned stores and over 95% of its partner stores in China and South Korea. The company stores have remained closed since mid-march to control the spread of COVID-19 and have been relying on the digital space to pull in revenue. 

“We are operating in a dynamic environment that will continue to evolve. Furthermore, the full extent of the impact of the COVID-19 pandemic on Nike’s operational and financial performance remains uncertain and will depend on many factors outside of Nike’s control,” the sportswear giant stated.

Nike President and CEO John Donahoe expressed how he is “encouraged by the recovery we are seeing in Greater China and South Korea as we continue to deepen our connection to consumers.”

“Even more so, consumers around the world are recognizing the need for an active and healthy lifestyle, and sport is now more meaningful than ever. With our strong digital foundation, brand momentum, and financial position, we believe this will be a catalyzing moment that strengthens Nike’s long-term future,” he further stated.

The company also confirmed that it remains focused on prioritizing the health of its employees and consumers and will follow strict guidelines issued by authorities for the welfare of the society as a whole.

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 has reopened almost all stores in China and South Korea in Yahoo Finance)


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