Nike warns of fourth-quarter impact in North America business

FILE PHOTO: People wearing protective face masks walk past the closed Nike store on a nearly empty 5th Avenue, during the outbreak of the coronavirus disease (COVID-19), in Manhattan, New York city, New York, U.S., May 11, 2020. REUTERS/Mike Segar

(Reuters) – Nike Inc (NKE.N) said on Thursday store closures in North America will hurt its retail and wholesales businesses in the fourth quarter.

The company said only 5% of Nike-owned stores in the geography are open as of Thursday amid the COVID-19 pandemic.

Reporting by Praveen Paramasivam in Bengaluru; Editing by Shailesh Kuber

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