Friday, 7 Aug 2020

NIKE

Nike plans to cut jobs in digital push

(Reuters) – Nike Inc (NKE.N) on Friday warned of job cuts as the world’s largest footwear maker ramps up efforts to sell directly to customers through its online and retail channels. The planned layoffs come after the company on Thursday reported a $790 million quarterly net loss, its first in more the two years, as […]

Nike swings to quarterly loss on COVID-19 impact; shares fall

(Reuters) – Nike Inc (NKE.N) on Thursday reported a loss for the fourth quarter, as retailers had to shut stores for weeks due to lockdowns spurred by the COVID-19 pandemic, sending shares of the world’s largest footwear company down 3.5%. The company’s wholesale business, through which it sells merchandise to department stores and footwear retailers, […]