Nike Is Closing Nearly Half Its Stores in China
Written by SOURCE on February 4, 2020
Nike isn’t taking any chances with the coronavirus outbreak, announcing today that it would temporary shutter roughly half of its stores within the Greater China region.
The brand issued a press release today stating that it is “prioritizing the health and safety of our teammates and partners, in cooperation with local authorities” and that its decision to close its stores was in line with other retailers in the region. Furthermore, the stores that are still open will be operating under “reduced hours” as the brand is forecasting lower than usual retail traffic.
“First and foremost, our thoughts are with the people affected and we remain focused on the health and safety of our teammates and partners,” said John Donahoe, President and CEO of Nike, Inc. “Despite this difficult situation, Nike’s long-term opportunity to continue to serve consumers in Greater China with inspiration and innovation remains exceedingly strong. At the same time, we continue to have extraordinary brand and business momentum in all other geographies.”
Stay tuned for ongoing updates as this situation develops.
