eBusiness Weekly
Nike temporarily shuts down about half of its stores in China due to the corona virus, the sports giant said in a statement today.
In the statement, the company said that it “puts the health and safety of our teammates and partners in the foreground” and is working with local authorities to close business and shorten opening hours at locations that are still open.
Nike added that the stores that are still open have “less than planned retail sales” and this is expected to have a significant impact on business in Greater China in the short term.
“Primarily, our thoughts are with those affected and we continue to focus on the health and safety of our teammates and partners,” said Nike Inc. president and CEO John Donahoe in a statement.
“Despite this difficult situation, Nike’s long-term opportunity to continue to provide inspiration and innovation to consumers in Greater China remains extremely great.
At the same time, we continue to have exceptional brand and business momentum in all other regions. “
The deadly coronavirus has spread all over the world, and at its epicentre in China, the outbreak has closed transport companies, retail stores, and other businesses.
The disease hit the Chinese economy at a crucial point in time: the Lunar New Year.
Industry leaders have been watching China closely after the outbreak that became an internationally worrying public health emergency last week. Fear of the deadly virus has devastated global markets, hampered travel, and challenged businesses across Asia.
On Monday, American Events announced that the NE Materials Show scheduled for February 5th and 6th in Boston and the NW Materials Show scheduled for February 12th and 13th in Portland, Ore, had been suspended, drawing dozens of attendees from China on.
The decision was fuelled by concerns about the spread of the coronavirus, which has infected more than 17 300 people worldwide and killed at least 362 people, the company said. — Reuters.
