Nike Suffers $790 Million USD Net Loss in Fiscal Fourth Quarter of 2020

Nike has announced its fourth quarter and end of year results for the fiscal year of 2020, suffering from weakening performance as a result of the ongoing Coronavirus (COVID-19) pandemic.More specifically, its revenue decreased by 38 percent in the final quarter of the year, dropping down to $6.3 billion USD while suffering a net loss of $790 million USD. At the same time, full year revenue decreased four percent to $37.4 billion USD, and net income was down 36 percent to $2.5 billion USD, altho...