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Nike posts big loss for three months to end-May

first_imgSports footwear and apparel giant Nike swung heavily into loss in its March-to-May 2020 quarter, reflecting the impact of COVID-19. On a more positive note, the company said that, as of June 25, “approximately 90 percent” of Nike-owned stores were open worldwide, with retail traffic improving week-over-week. There is also anecdotal evidence of an upturn in running activity during the lockdown, while recreational team sports have been on hold – a trend from which Nike and other running shoe and apparel manufacturers will presumably hope to draw benefit in future, particularly if it is sustained as lockdowns ease. President and chief executive John Donahoe said the company was “continuing to invest in our biggest opportunities, including a more connected digital marketplace.” read also:Emenike: Players offer coaches, NFF officials bribe Digital sales were said to have increased by 75 percent in the most recent quarter, accounting for around 30 percent of overall revenue. Donahoe served notice in early February, following a visit to China, that sales and production there had been affected by measures introduced to prevent the spread of the virus. Donahoe has only been in his current position since January. FacebookTwitterWhatsAppEmail分享 Loading… The Oregon-based company said its fourth-quarter results were “significantly impacted by physical store closures” across the globe. It said product shipments to wholesale customers were down “nearly 50 percent”, resulting in lower total revenue and higher inventory. However, in line with an upsurge of e-commerce generally, Nike’s digital business was said to be accelerating “in every market.” All told, the net loss for the three months to May 31 reached $790 million (£642 million/€702 million), compared with net income of $989 million (£804 million/€879 million) a year earlier. Revenues plunged by 38 per cent from $10.18 billion (£8.28 billion/€9 billion) to $6.31 billion (£5.1 billion/€5.61 billion). Meanwhile, in a development that may be of direct concern to the sport, Nike said that what it refers to as “demand creation expense” dipped 19 percent to $823 million (£669 million/€732 million), “as retail and brand marketing spend was shifted as sporting events were cancelled or delayed due to COVID-19.” Promoted ContentWhich Country Is The Most Romantic In The World?8 Shows You Didn’t Want To Watch At The EndWhat’s Up With All The Female Remakes?8 Things To Expect If An Asteroid Hits Our Planet10 Risky Jobs Some Women DoThe Very Last Bitcoin Will Be Mined Around 2140. Read More8 Scenes That Prove TV Has Gone Too Far8 Best 1980s High Tech Gadgets5 Of The World’s Most Unique Theme Parks2020 Tattoo Trends: Here’s What You’ll See This Year10 TV Characters Who Were Destined To Become Iconic11 Most Immersive Game To Play On Your Table Toplast_img read more

Solanke: Bournemouth must ‘regroup mentally’

first_imgRelatedPosts Newcastle linked with Jordon Ibe QPR slap N8.1b on Eberechi Eze Fulham join Eberechi Eze race Frontman Dominic Solanke admitted Cherries had to “regroup mentally” in a bid to get back to winning ways in the Premier League. The former Liverpool and Chelsea youngster was recalled to Eddie Howe’s line-up for Saturday’s 2-0 reverse at Brighton. Defeat was the Dorset club’s seventh in nine games and put them just two points above the relegation zone. But Solanke, who could be involved in a relegation scrap for the first time in his career, backed Cherries’ quality to steer clear on the bottom three. Speaking ahead of New Year’s Day’s crucial showdown at West Ham, England international Solanke told the Daily Echo: “Every team has bad runs, we just have to get out of it. “We have such a talented squad. We just need to regroup mentally and think about what we can do to start winning again. “We didn’t manage to get the win on Saturday but hopefully we can get the win on Wednesday. “We are just going to have to bounce back, recover over the next few days and hopefully we can go there and get a result. “There are still a lot of games in the season to go, so hopefully we can pick back up our form and go on a good run of games.” Solanke’s start against the Seagulls was his first in four league outings. Assessing the defeat to the Graham Potter’s men, he added: “We went down after a few minutes and that’s always a bit of a blow. “But I think in the first half we created quite a few chances. If we’d taken one of the them the game would have been totally different. “We didn’t manage to be clinical enough in that period.”Tags: AFC BournemouthDominic SolankeEddie HowePremier LeaueWest Hamlast_img read more

Syracuse has lowest scoring game in 74 years against No. 11 Virginia

first_imgAs Syracuse passed the ball around the perimeter, one fan let out the cry of a flaking offense. “Someone move,” he yelled.No one did. The ball flung around the perimeter to freshman Brycen Goodine. He took a step forward and jumped. The shot was blocked. Another Syracuse possession had ended without points and the crowd groaned again. Fans flooded up the bleachers toward the exit. With a little more than five minutes to play, the Orange hadn’t cracked 30 points. When the last ball finally clanked off the rim and Syracuse players had turned their heads in anguish enough times, No. 11 Virginia (1-0, 1-0 Atlantic Coast) beat Syracuse (0-1, 0-1), 48-34, on Wednesday night in the Carrier Dome. It was Syracuse’s worst offensive performance in 74 years. The Orange shot 23.6% from the field, including 5-of-29 from beyond the arc. On the opening night of the 2019-20 season, Syracuse needed to find a new offensive identity. Instead, it met the strangling bully of Virginia’s pack-line defense. “We just are not ready to play against that defense,” SU head coach Jim Boeheim said. “I thought we were going to be a little better, but we really just did not do the things offensively…we just really never got movement and when we got it, we just really didn’t get positive actions off the movement.” AdvertisementThis is placeholder textSyracuse’s 34 points against UVA is the lowest total any Jim Boeheim team has scored. Max Freund | Staff PhotographerSyracuse’s first opponent of the 2019-20 season wasn’t the easy win it had become accustomed to. Instead of Eastern Washington or Cornell, the Orange welcomed the defending national champions and a perennial conference juggernaut under head coach Tony Bennett. Virginia’s defense has ranked in the top 10 of Ken Pomeroy’s adjusted defensive efficiency stat each season since 2014. Boeheim described the Cavaliers as the best defense Syracuse would see all year. And without its top two scorers from a year ago, Virginia’s defense stifled the Orange. The defensive set itself, known as the pack-line, is a man-to-man. Freshman Joe Girard III noted the classic man scheme but it’s like “you’re against 1-on-5,” he said. The way Virginia sags off players who don’t have the ball creates a fortress around the paint, and Syracuse couldn’t penetrate it.“They’re always in front of you,” forward Marek Dolezaj said. “They never jump at a shot fake. They are always at the same place. They just don’t let you do anything.” So, Syracuse stood from outside the wall created by the Cavaliers and fired. Even 29 3-point attempts couldn’t bail the Orange out.It all came down to movement, both Boeheim and players said. Elijah Hughes, who led Syracuse with 14 points, admitted it can become easy to stand around when shots aren’t falling. The Virginia defense builds on its opponent, slowly lulling the players without the ball to sleep. They needed to screen the ball more. Or screen off-ball. Or screen for Hughes. Or screen for Buddy Boeheim. Packed in close, Virginia’s defense had Syracuse where it wanted: Far away from the basket. The Orange never moved so Virginia didn’t have to either. “It’s just hard,” Hughes said. “We didn’t get in a rhythm because of it and they just made it difficult for us.”Boeheim noted in the preseason that his time will rely more heavily on the 3-pointer. Numerous shots rimmed out in the first half when the Orange had open looks. More than 10 minutes into the game, Syracuse’s lone points had come from a Bourama Sidibe layup. Marek Dolezaj was one of three players to score over three points. He went 2-for-8 on the night. Max Freund | Staff PhotographerIn spurts, SU flashed what it could be offensively. On one series, a Virginia defender stuffed Hughes’ jump shot from the elbow. Syracuse retained possession though, and when Hughes drove to the basket, he finished through a foul. The redshirt junior, clenched his fists and let out a roar. That’s what this offense can be — a Hughes takeover. But it didn’t last as he clanked the ensuing free throw.Girard III, New York State’s all-time leading scorer, sank his first bucket for Syracuse against Virginia, a 3-pointer in which the ball bounced off the back of the rim and in through the mesh. Kihei Clark, the Cavaliers star guard, frequently picked Girard III up at or before the half-court marker. Girard III crossed his defender up on a drive to the basket midway through the first half, drawing a resounding “ooo” from the crowd. As the freshman guard drove toward the baseline his kick out pass was far off from any white jersey and went toward the radio announcers. As the freshman dribbled around the top just beyond the three-point arc, an extra defender sometimes slid up to help out despite Bennett waving them back. Girard III then advanced the ball on to Dolezaj in the high post. With no man on him, Dolezaj scored once. Another time he looked for a skip pass. It soared over Buddy’s head in the opposite corner. Syracuse’s offense can be a Girard III or Buddy shooting show. On Wednesday, it was off the mark.“We’ve got guys that can shoot,” Boeheim said. “I’ve got to get them in better position to get them better shots, better looks and we’ll see how we can build in the next week or so.” Syracuse kept it close with Virginia all night. The shots just never fell. At some point, it all adds up. Or in Syracuse’s case, not enough added up.  Comments Facebook Twitter Google+ Published on November 6, 2019 at 11:10 pm Contact Josh: jlschafe@syr.edu | @Schafer_44last_img read more