Singapore EverydayOnSales News
  • Home
  • Entertainment
  • Event
  • LifeStyle
  • News
  • Sales Selection
    • > Sales Happening Now
    • > This Week Sales
    • > Upcoming Sales
  • Latest Sales
  • Advertise Here
  • > Sales Happening Now
  • > This Week Sales
  • > Upcoming Sales
  • ★ Warehouse Sale
  • Advertise Here
Singapore EverydayOnSales News
  • Home
  • Entertainment
  • Event
  • LifeStyle
  • News
  • Sales Selection
    • > Sales Happening Now
    • > This Week Sales
    • > Upcoming Sales
  • Latest Sales
  • Advertise Here

Nike Lost $17 Billion USD in Market Valuation Due to the Coronavirus

by Brian Chan March 2, 2020

If you’re wondering how bad is the market impacted from Corona virus, then Nike can tell you how bad they are impacted!

There is a new statement released by Nike indicates that the coronavirus outbreak — particularly in China — resulted in a $17 billion USD depreciation in market value. Because of the virus, the sportswear giant has been forced to shut down almost half of all its stores in the country, and those that were still open operated at reduced hours. Of course, foot traffic has also been significantly reduced due to health concerns and people feeling reluctant to go outside, further affecting Nike’s sales. Most significantly, however, is the fact that the affected market is Greater China, a new report from Forbes explains why.

Just when you think it’s only China impacted then you’re wrong.  According to the financial publication, China is the company’s fastest-growing and most profitable region in the world, accounting for 15 percent of the total revenue and a whopping 40 percent of profits during the 2019 financial year. From 2016 to 2019, the country was responsible for more than a third of the company’s global growth, adding $2.4 billion USD in revenue to Nike at an 18 percent per annum rate, a significantly higher number than the 6.5 percent accounted for by the rest of the world.

Unsurprisingly, China is also Nike’s most profitable region for the past four years, bringing in an additional $800 million USD to the company’s total adjusted operating profits.

With the coronavirus seemingly still expanding, it is still uncertain how deep the financial issues caused by the outbreak can go.

So it’s quite massive impact from this disease! What’s your take on this?

Follow us on Telegram for the latest updates on Community News in Singapore: https://t.me/EverydayOnSalesSG

Nike
previous post
Long John Silver’s Bugis Village Closure!
next post
Milo on Top of Brown Sugar Boba. Really Bringing Back The Childhood Memories!

Related Post

Popeyes Singapore Offers 5 pcs Fried Chicken Deal...

A New LINE FRIENDS Starry Starry Night Merchandise...

Starbucks is offering you a FREE Drink! Here’s...

On July 6, FREE McDonald’s Chicken McCrispy Drumstick...

Adorable Shiba Inu “McDonald’s” Fast Food Toys Under...

McDonald’s Offers 20% OFF the Breakfast Family Meal &...

Popeyes Singapore Offers 5 pcs Fried Chicken Deal...

A New LINE FRIENDS Starry Starry Night Merchandise...

Starbucks is offering you a FREE Drink! Here’s...

On July 6, FREE McDonald’s Chicken McCrispy Drumstick...

Adorable Shiba Inu “McDonald’s” Fast Food Toys Under...

McDonald’s Offers 20% OFF the Breakfast Family Meal &...

Popular News

  • 1

    3 Easy Steps for you to Clean off Dust From Your Standing Fan Type

  • 2

    Music Option is Finally Available at Your Favourite Instagram App in Singapore

  • 3

    14 Mosque Open For Solemnization Of Marriages

  • 4

    Top Spots To Satisfy Your Rosti Cravings in Singapore

  • 5

    The Rink and Kallang Ice World Where You Can Enjoy Ice Skating Here In Singapore

  • 6

    Enjoy this 8 Staycation With Halal Breakfast

  • 7

    Starbucks is offering you a FREE Drink! Here’s How to grab yours From 14-20 June 2021

  • 8

    Cheaper Deal Before Shop Closing time Where You can Enjoy up to 50% off

  • 9

    Ben Yeo Opens Another F&B concept Of Izakaya in Kallang During Phase 2

  • 10

    On July 6, FREE McDonald’s Chicken McCrispy Drumstick Plushie & T-Shirt will be Given Away

  • Facebook
  • Twitter
  • Instagram
  • Email
  • Telegram
  • Terms of Service
  • Privacy Policy
  • Advertise with EverydayOnSales

© Copyright 2009 - 2025 Singapore Everyday On Sales. All Right Reserved.