{"id":5280,"date":"2020-03-02T14:30:00","date_gmt":"2020-03-02T06:30:00","guid":{"rendered":"https:\/\/sg.everydayonsales.com\/news\/?p=5280"},"modified":"2020-03-02T14:30:00","modified_gmt":"2020-03-02T06:30:00","slug":"nike-lost-17-billion-usd-in-market-valuation-due-to-the-coronavirus","status":"publish","type":"post","link":"https:\/\/sg.everydayonsales.com\/news\/5280\/nike-lost-17-billion-usd-in-market-valuation-due-to-the-coronavirus\/","title":{"rendered":"Nike Lost $17 Billion USD in Market Valuation Due to the Coronavirus"},"content":{"rendered":"

\"\"If you’re wondering how bad is the market impacted from Corona virus, then Nike<\/a> can tell you how bad they are impacted!<\/p>\n

There is a new statement<\/a>\u00a0released by\u00a0Nike<\/a>\u00a0indicates that the\u00a0coronavirus\u00a0outbreak \u2014 particularly in China \u2014 resulted in a $17 billion USD depreciation in market value. Because of the virus, the sportswear<\/a> giant has been\u00a0forced 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<\/a>\u2019s sales. Most significantly, however, is the fact that the affected market is Greater China, a new report from\u00a0Forbes<\/em><\/a>\u00a0explains why.<\/p>\n

Just when you think it’s only China impacted then you’re wrong.\u00a0 According to the financial publication, China is the company\u2019s 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\u2019s global growth, adding $2.4 billion USD in revenue to Nike<\/a> at an 18 percent per annum rate, a significantly higher number than the 6.5 percent accounted for by the rest of the world.<\/p>\n

Unsurprisingly, China is also Nike<\/a>\u2019s most profitable region for the past four years, bringing in an additional $800 million USD to the company\u2019s total adjusted operating profits.<\/p>\n

With the coronavirus seemingly still expanding, it is still uncertain how deep the financial issues caused by the outbreak can go.<\/p>\n

So it’s quite massive impact from this disease! What’s your take on this?<\/p>\n","protected":false},"excerpt":{"rendered":"

If you’re wondering how bad is the market impacted from Corona virus, then Nike…<\/p>\n","protected":false},"author":2,"featured_media":5281,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[21],"tags":[294],"yoast_head":"\nNike Lost $17 Billion USD in Market Valuation Due to the Coronavirus - Singapore EverydayOnSales News<\/title>\n<meta name=\"description\" content=\"If you're wondering how bad is the market impacted from Corona virus, then Nike can tell you how bad they are impacted!\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/sg.everydayonsales.com\/news\/5280\/nike-lost-17-billion-usd-in-market-valuation-due-to-the-coronavirus\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Nike Lost $17 Billion USD in Market Valuation Due to the Coronavirus\" \/>\n<meta property=\"og:description\" content=\"If you're wondering how bad is the market impacted from Corona virus, then Nike can tell you how bad they are impacted!\" \/>\n<meta property=\"og:url\" content=\"https:\/\/sg.everydayonsales.com\/news\/5280\/nike-lost-17-billion-usd-in-market-valuation-due-to-the-coronavirus\/\" \/>\n<meta property=\"og:site_name\" content=\"Singapore EverydayOnSales News\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/sgeverydayonsales\" \/>\n<meta property=\"article:published_time\" content=\"2020-03-02T06:30:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/sg.everydayonsales.com\/news\/wp-content\/uploads\/2020\/03\/5e5bed50fee23d0e9b022d23.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"1100\" \/>\n\t<meta property=\"og:image:height\" content=\"550\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@sgeons\" \/>\n<meta name=\"twitter:site\" content=\"@sgeons\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\">\n\t<meta name=\"twitter:data1\" content=\"1 minute\">\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Organization\",\"@id\":\"https:\/\/sg.everydayonsales.com\/news\/#organization\",\"name\":\"EverydayOnSales Singapore\",\"url\":\"https:\/\/sg.everydayonsales.com\/news\/\",\"sameAs\":[\"https:\/\/www.facebook.com\/sgeverydayonsales\",\"https:\/\/www.instagram.com\/sgeverydayonsales\/\",\"https:\/\/twitter.com\/sgeons\"],\"logo\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/sg.everydayonsales.com\/news\/#logo\",\"inLanguage\":\"en-US\",\"url\":\"https:\/\/sg.everydayonsales.com\/news\/wp-content\/uploads\/2019\/08\/SG-EverydayOnSales.jpg\",\"contentUrl\":\"https:\/\/sg.everydayonsales.com\/news\/wp-content\/uploads\/2019\/08\/SG-EverydayOnSales.jpg\",\"width\":400,\"height\":400,\"caption\":\"EverydayOnSales Singapore\"},\"image\":{\"@id\":\"https:\/\/sg.everydayonsales.com\/news\/#logo\"}},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/sg.everydayonsales.com\/news\/#website\",\"url\":\"https:\/\/sg.everydayonsales.com\/news\/\",\"name\":\"EverydayOnSales Singapore News\",\"description\":\"Trending news for Singapore\",\"publisher\":{\"@id\":\"https:\/\/sg.everydayonsales.com\/news\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":\"https:\/\/sg.everydayonsales.com\/news\/?s={search_term_string}\",\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/sg.everydayonsales.com\/news\/5280\/nike-lost-17-billion-usd-in-market-valuation-due-to-the-coronavirus\/#primaryimage\",\"inLanguage\":\"en-US\",\"url\":\"https:\/\/sg.everydayonsales.com\/news\/wp-content\/uploads\/2020\/03\/5e5bed50fee23d0e9b022d23.jpeg\",\"contentUrl\":\"https:\/\/sg.everydayonsales.com\/news\/wp-content\/uploads\/2020\/03\/5e5bed50fee23d0e9b022d23.jpeg\",\"width\":1100,\"height\":550},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/sg.everydayonsales.com\/news\/5280\/nike-lost-17-billion-usd-in-market-valuation-due-to-the-coronavirus\/#webpage\",\"url\":\"https:\/\/sg.everydayonsales.com\/news\/5280\/nike-lost-17-billion-usd-in-market-valuation-due-to-the-coronavirus\/\",\"name\":\"Nike Lost $17 Billion USD in Market Valuation Due to the Coronavirus - 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