Nike revenue beats as digital growth offsets rare China sales fall on virus hit

Nike revenue beats as digital growth offsets rare China sales fall on virus hit

Nike has seen online sales rise by more than 30% in China offsetting the first sales drop in the country in nearly six years due to the coronavirus-fueled shutdowns. Sales in China fell 5% to $1.5bn in the third quarter. Overall digital sales grew 36% in the quarter ended Feb. 29. Such sales accounted for nearly a tenth of the company’s overall revenue in fiscal 2019. Nike’s shares rose about 11%.

David
David
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