Nike closes US and European stores amid coronavirus outbreak
US sports giant Nike has announced it will close all of its shops in the US, western Europe, and several other countries in an effort to protect staff and customers from coronavirus.
Shops will be closed from tomorrow until at least 27 March, Nike said, including in Canada, Australia and New Zealand.
Nike said its shops in South Korea, Japan and most of China would continue to operate as normal, while people can still use the Nike.com website.
The sportswear company said it is taking other measures to protect staff, including “the option to work from home, staggered work schedules, social distancing and additional safety and cleaning steps”.
Nike is the latest big company to cut back on its normal operations in the face of coronavirus. There have now been more than 156,000 confirmed cases and more than 3,200 cases worldwide. There have been nearly 3,000 cases and 59 deaths in the US.
Apple yesterday said it will shutter all its stores worldwide except for those in China until at least 27 March. Clothing retailer Urban Outfitters has followed suit, saying its stores will be shut until at least 28 March.
Huge companies closing their doors is an indication of the effect the coronavirus containment effort will have on the global economy. Global stock markets have cratered as investors brace themselves for a big hit.
“Clearly, investors continue to price a global recession as the cases of Covid-19 continue to accelerate outside of Asia,” said analysts at Japanese bank MUFG in a note.
“There are only two factors now that will shape investor sentiment and financial market conditions – Covid-19 data and global policymakers’ response to the crisis.”