Nike lost $790m in the fourth quarter, with soaring digital sales failing to make up for the loss of revenue from shuttered stores in most of the world.
The world’s largest sports apparel maker said its revenue fell 38 percent to $6.31bn in the three-month period ending May 31.
Nike said 90 percent of its stores in North America, Europe and Latin America were closed during the period because of the coronavirus pandemic. Sales fell 46 percent in both North America and Europe, but just 3 percent in China as stores reopened there.
