Coronavirus News Asia

Nike China ‘traffic is back,’ from virus lows

Nike executives said Tuesday that shoppers in key Asian markets are beginning to return to stores as the company reported a rare drop in Chinese quarterly revenues cushioned by stronger e-commerce sales.

“Traffic is back,” Nike Chief Executive John Donahoe said of the dynamic in China that is also beginning to play out in Japan and South Korea, two other countries that also may be past the worst of the outbreak.

“Consumers are back in the stores,” he told analysts during an earnings conference call. “They are often wearing facemasks, but they’re back in the store.”

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