Nike remains focused on growing its brand even as it swung to a big loss amid the Covid-19 pandemic. The athletic footwear and apparel giant reported a loss of $790 million for the quarter ended May 31, compared to income of $989 million in the year-ago period.
“We’ve been testing this format with Nike Live and have a great understanding of how to best deliver this experience and so we will proceed ahead this year with more test-and-learn examples of it and scale it through the next couple of years,” – Nike President & CEO John Donahoe stated.
“In the first half of the year we intend to shift two Nike-owned doors in New York to the live concept, and as we’ve continued to test the concept, we’ve been testing the assortment. We’ve been testing member engagement and we are seeing that members engage more. This is why we see this [Nike Live]as being a catalyst to digital growth, having local stores that members can engage with.” – Matthew Friend, Nike CFO.