Nike shares surged 11% after hours on Tuesday after the sneaker giant and Dow component offered hope that consumers haven’t lost their spending muscle amid the escalating global coronavirus crisis
With the outbreak spreading globally, the Beaverton, Oregon-based company has closed all of its owned stores in North America, Europe and other regions outside of China, Japan and South Korea sinceAs U.S. malls, restaurants and other industries seek government bailouts amid the shuttering of stores and the threat of a looming global recession, Nike’s results are one good sign for the state of consumer spending, which in the U.S. represents about 70% of the economy.
Nike said it’s engaging with consumers via its mobile apps and encouraging “virtual participation” as consumers stay at home and practice social distancing. Campion added that Nike has doubled its capacity to distribute online orders in the last few days. The company said it’s working with partners including the European online retailer Zalando and sharing information as online demand is expected to pick up even more —— despite the fact they won’t be able to make up for the shuttered brick-and-mortar business.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Inside the Nike Vaporfly: The Shoe So Good It Almost Got BannedWatch us cut a $250 racing shoe in half for, you know, science.
Lire la suite »
Meghan Markle's Iconic Satin Massimo Dutti Skirt Is Back In StockShe wore it for one of her final-ever royal appearances back in January.
Lire la suite »
Stock Up On This Affordable Fitness Equipment to Crush Any At-Home WorkoutFrom dumbbells to resistance bands, here's the best home workout equipment to tackle trainer-created routines in your living room.
Lire la suite »
Stock market investing strategy during coronavirus outbreak: JPMorgan - Business InsiderA JPMorgan heavyweight who advises a $1.9 trillion business breaks down 3 investing strategies set to thrive right now — even as he forecasts 'the virus is going to win'
Lire la suite »
Here's what happened to the stock market on MondayStocks fell as Senate lawmakers failed to push through a massive fiscal stimulus package through a key procedural hurdle.
Lire la suite »
IHF: iShares U.S. Healthcare Providers ETF - Stock Price, Quote and News - CNBCThe iShares Healthcare Providers ETF (IHF) is surging today, led by names like Tenet, Humana, and Universal Health Services. The ETF's largest component, UnitedHealth, is on pace for its best week since May 2009.
Lire la suite »