Get Woke, go broke.
Posted on 06/25/2020 5:21:27 PM PDT by blam
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.
Revenues tumbled 38 percent to $6.3 billion following huge declines in sales in most of the world.
In North America, the company’s biggest operating region, revenues plunged 46 percent to $2.2 billion.
A bright spot was online sales, with digital sales increasing 75 percent during the quarter.
The results are among the first by a major company to detail the hit from the coronavirus during the period of peak shutdowns. Nike is on a different fiscal calendar than most other large companies, with its fourth quarter ending May 31.
The second-quarter earnings period, which covers the quarter ending June 30, will begin in mid-July.
(snip)
(Excerpt) Read more at breitbart.com ...
My fave shirt!!
It seems like a very strange accounting trick.
Could you not purchase online during the pandemic?
Hey, NIke...yeah you, Nike.
How that there Kaepernick fella doing for sales for ya?
You know..that racist fella that hates America...yeah, that guy. How’s he doin’ for ya?
Ya?....Thought so.
Nike will pay any NFL team $50mm to sign Kaepernick for 2 years. They hitched the wagon to him and he has to pull it.
Get Woke, go broke.
Great news...hopefully it will continue to crash...hey maybe they can bring out a blm model with a bic lighter in the sole...that should really ignite sales...lolol
Never owned a pair and never will
NBA idols turned invisible 3 months ago. I wonder how this is going to affect their marketing contracts?
Just about the time that Nike and Poodlehead started snivelling and virtue signalling, my last porch flag gave up the ghost after a storm. So I hung a Betsy Ross flag. Come touch it, and I’ll give you a Constitutional triathalon in the 1st, 2nd, and 4th Amendments in the pull of a trigger.
Good. Regarding bankruptcy, I hope they “just do it”.
LOL!
Take it! Just. Do. It.
“The current CEO took over in January. He’s doing a swell job.”
Doesn’t matter. They suck. An American brand left US shores decades ago and hated us.
If Nike wants to be seen as really woke, they would offer looters the opportunity to exchange shoes for the correct size.
Good.
I think it is of course. Remember when they announced all their just do it social justice commercials with Kaepernick and it was around fall last year when people were Christmas shopping. They breathlessly reported how their sales increased to try the gaslight people and the media tried to gaslight into thinking that everyone’s on Nike’s side when it was just Christmas sales. It takes time for something like their Kaepernick campaign to show the real story of what’s going on.
Nike should give more shoes away.
You are an old man who thinks in terms of nations and peoples. There are no nations. There are no peoples. There are no Russians. There are no Arabs. There are no third worlds. There is no West. There is only one holistic system of systems, one vast and immane, interwoven, interacting, multivariate, multinational dominion of dollars. Petro-dollars, electro-dollars, multi-dollars, reichmarks, rins, rubles, pounds, and shekels.
It is the international system of currency which determines the totality of life on this planet. That is the natural order of things today. That is the atomic and subatomic and galactic structure of things today! And YOU have meddled with the primal forces of nature, and YOU WILL ATONE!
Am I getting through to you, Mr. Beale?
You get up on your little twenty-one inch screen and howl about America and democracy. There is no America. There is no democracy. There is only IBM and ITT and AT&T and DuPont, Dow, Union Carbide, and Exxon. Those are the nations of the world today.
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