Europe and the US will be over the worst of the coronavirus crisis “in the near future”, Nike’s chief executive John Donahoe has predicted after the sportswear company said it had reopened most of its stores in China.
The footwear and clothing group, which shut three-quarters of its outlets in greater China at the peak of the country’s coronavirus crisis in February, on Tuesday disclosed that about four out of five of its 7,000 stores in the region were now open.
Nike’s update, which sent its shares up 8.5 per cent in after-hours trading, offers at least some hope that other economies brought to a standstill by the pandemic will be able to get back on their feet in coming months.
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