Nike Online Digital Sales In Greater China Increase More Than 30 Percent During Coronavirus Pandemic

Image Courtesy of Nike

Nike reported a suubstantial increase in Chinese Ecommerce activity for their products during the time that all their stores in China were closed.

Nike’s Revenues increased to $10.1 billion in the third quarter, up 5 percent on a reported basis and up 7 percent on a currency-neutral basis, driven by 13 percent currency-neutral growth in NIKE Direct with digital growth of 36 percent and strong growth across EMEA, APLA and North America, offset by the impact of COVID-19 on their business in Greater China.

Digital sales in Greater China increased more than 30 percent while brick and mortar retail sales were impacted by temporary store closures related to COVID-19.

“In an extraordinarily dynamic time, NIKE’s strong results are testament to our deep consumer connections, compelling product innovation and agile teams around the world. We know it’s in times like these that strong brands get even stronger,” said John Donahoe, President and CEO, NIKE, Inc. “As we start to see recovery in China, no one is better equipped than NIKE to navigate the current climate.”**

Greater China’s revenue grew strong double digits, offset by the impacts of COVID-19 beginning in late January.

At the peak in February, roughly 75 percent of NIKE-owned and partner doors in Greater China were closed with others operating on reduced hours.

Currently, nearly 80 percent of doors are open in Greater China with an even higher rate in key cities.

Beginning March 16th, all NIKE-owned stores, outside of Greater China, Japan and Korea were closed to help curb the spread of COVID-19.