Nike will pay up to $250 million for layoffs

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 Nike will pay up to $250 million for layoffs


The novel coronavirus pneumonia has devastated the global economy and led to a dismal retail business. Many stores are forced to shut down and reduce their burdens. Nike brand is no exception. According to the latest financial report released by Nike, due to the impact of the epidemic, revenue fell 38% in the last quarter, but the performance of the e-commerce Department increased significantly by 75%, accounting for 30% of the total revenue.

The new crown epidemic has changed the shopping habits of some consumers. In order to meet the market demand, Nike will focus more on the promotion and development of digital business in the future.

Extended reading IKEA also wants to sell clothes? Japans IKEA has already done so. Swiss watch exports are still down 35% in June. The Association says it has begun to recover. Italian luxury goods manufacturing has been hit hard. Orders have fallen 50% in the past two months_ NQ7809