Nike closes half its stores in China, says coronavirus to have 'material impact'

American sports apparel brand Nike on Tuesday issued a statement where it said that company has closed half its stores in China and reduced hours at ors due to outbreak of dely Coronavirus. Nike said that it is prioritising health of its teammates and partners while warning that it expects financial and or impacts on its operations in country. decision came amid ongoing health emergency in China where more than 20,000 people are reportedly affected by contagious virus. 

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Nike in its statement said that similar to ors in marketplace, it has temporarily closed down half of its stores in China and ones which are open are 'experiencing lower' footfall. company furr ded that it is expecting a material and financial impact on its operations in Greater China.

As per media reports, Nike CEO John Donahoe said that company is determined to serve consumers in Greater China with inspiration and invation despite difficult situation. 

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Coronavirus outbreak

According to latest media reports, outbreak of dely coronavirus has claimed more than 420 lives in China alone. confirmed reported cases have reached up to 20,000 as of February 4 and as per US CDC, confirmed cases of virus have been reported in 27 or countries. disease is believed to have originated in a seafood market in Hubei's Wuhan city, epicentre of virus outbreak, where animals were being tred illegally. 

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China is handling situation quite effectively as just recently country built a hospital in a record time of just eight days to house patients affected by disease. International press earlier reported that Chinese authorities have imposed a strict quarantine in 12 cities across country, 11 of which are in Hubei province. Beijing is also building ar hospital in Wuhan with a capacity of an estimated 1,600 beds. 

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(With ncy inputs)