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COVID-19 Impact on Nike Inc. and its future prospects

COVID-19 Impact on Nike Inc. and its future prospects

Summary

The post coronavirus (COVID-19) company impact report analyses the impact of the COVID-19 outbreak on Nike Inc. & its future prospects.

Nike Inc. sales are forecast to decline by 1.0% in 2020, versus a healthy growth of 9.5% in 2019 and pre-COVID 2020 forecast of 10.0% - highlighting how the crisis has applied brakes to the retailer's continuous strong sales

Sales through online channel registered robust growth with double digit increases in China, North America and Asia Pacific & Latin America (APLA) and triple digit growth in Europe, Middle East and Africa (EMEA).

Scope

- Nike Inc. will underperform its original 2020 sales forecast in the wake of the COVID-19 pandemic which led to significant store closures and subdued demand
- Nike registered a significant increase in online demand with digital sales growing 82% in Q1 2021 representing 30% of Nike's revenues for that quarter
- With improving sales at physical stores and robust growth in online sales, Nike unlocks its potential to meet full year expectations and will outperform the apparel sector in 2020.

Reasons to Buy

- Use our revised 2020 forecast for Nike Inc. to understand how it will perform this year.
- Use our charts to review how Nike Inc.'s sales are split by region globally and how these regions have been impacted by COVID-19.
- Use our in-depth analysis to review how Nike Inc. has responded to COVID-19 and how this will affect its performance.
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COVID-19 Impact on Nike Inc. and its future prospects
Published By :GlobalData
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