As of May 14, all of Nike’s owned stores and more than 95 percent of its partner stores in Greater China and South Korea were open, although some still have shortened hours. Store traffic there remains low, according to Nike, but overall retail traffic and conversion rates are rising and digital demand is strong. Most of its owned stores and its wholesale partners’ stores in the rest of the world closed in mid-March, driving down wholesale revenues and building inventory. This will have a material effect on the current quarter’s results for Nike Direct and wholesale operations in North America, Latin America, EMEA and Asia-Pacific. To compensate for the effects of quarantines, Nike has been boosting its consumer-focused digitalization, seeking to create engagement through mobile commerce and apps, while increasing its digital fulfillment capacity. It has begun to reopen stores in about 15 countries, including Germany, France, the Netherlands, Brazil and the U.S. About 40 percent of its owned stores have reopened in EMEA, 15 percent in Asia-Pacific and Latin America, and five percent in North America. The pandemic’s full effect on Nike’s operational and financial performance remains uncertain for now, the company said.

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