Friend stated that for the quarter 90% of all global owned stores were closed roughly eight weeks leading to a year-over-year sales decline of 38%. (Photo by Jonathan Bachman/Getty Images) Getty ImagesThe acceleration of the consumer’s acceptance of direct business is a strategy NIKE is focused on for the future. Visits to NIKE locations were up 8.0% and 20.5% year over year for January and February respectively. By investing in technologies that support a digitally empowered consumer, NIKE will improve inventory management, consumer connectivity, speed-to-market and responsiveness to consumer demand. Strong leadership, a diversified business model including wholesale, retail, and direct-to-consumer across many countries will allow NIKE to rebound strongly for the remaining part of 2020.

Source: Forbes June 25, 2020 23:03 UTC