“We are aware of the presumptive case of coronavirus (COVID-19) in Lake Oswego. While we have no information indicating any exposure to Nike employees, out of an abundance of caution, we are conducting a deep cleaning of our campus,” a Nike spokesperson told FN. “All world headquarters buildings and facilities, including fitness centers, will be closed over the weekend.”
The coronavirus, originated late last year in the central Chinese city of Wuhan, has so far killed over 2,900 people globally, with more than 87,000 cases reported internationally. The majority of infections have been confined to mainland China, but last week saw a spike in cases outside of China, including in South Korea, Iran and Italy. The virus has spread to more than 60 countries.
The first death of an American from coronavirus was confirmed yesterday. A man in his 50s died in the state of Washington, officials said. There are 73 total U.S. cases of coronavirus confirmed as of press time.
Heightened coronavirus fears sent U.S. stock markets across the board into a spiral last week, with the Dow Jones Industrial Average, S&P 500 and Nasdaq Composite all down more than 15% from February highs by week’s end. Any gains for 2020 were wiped out.
Several fashion and footwear firms — including Nike as well as Crocs, Wolverine World Wide and Skechers — have warned of potential negative financial impacts due to coronavirus. In February, the Swoosh issued a statement warning that about half of its stores had been closed in China, and that the stores which remained open were cutting back hours and seeing lower foot traffic. While he warned of the potential for decreased earnings, new CEO John Donahue noted that “dynamics continue to evolve.”
“Nike’s long-term opportunity to continue to serve consumers in Greater China with inspiration and innovation remains exceedingly strong. At the same time, we continue to have extraordinary brand and business momentum in all other geographies,” he said in a statement.
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