Nike Reports Surprise $790 Million Loss, 46% Plunge in North American Sales

New York (AFP) – Sports giant Nike reported a surprise loss Thursday as shutdowns due to COVID-19 prompted a big drop in revenues in spite of higher online sales. Nike reported a loss of $790 million in the quarter ending May 31, which translated to a loss of 51 cents per share compared with analyst expectations for nine cents per share in profit.-- More...