The mean streets meet Nike: There have rarely been times like this. In the last 100 years, worldwide, we’ve endured three massive crises; the Great Depression, WWII, and now Covid-19. There have been other difficulties, some global and some national, but through them all, sports have been largely immune to the effects. Until now. Over the last 100 years, there has been an almost continuous growth in fans, revenues, salaries, and profits year in and year out. Entire industries have been born out of the sporting industry; shoes, apparel, equipment, sponsorships, and the rest, but now all of them have been devastated by the lockdown. So what do you do in this temporary closure and shutdown of revenues? When fans can’t attend games, when kids can’t play and wear out shoes, and when us weekend warriors can’t do battle? Nike, who put out this promotional video called Never Too Far Down | You Can't Stop Us, probably hit the mark as well as anybody. They address the adversity of some of their top athletes that reflect what many of us are going through in our lives. Note: Nike's revenues were down 38% in the last quarter despite a 75% increase in digital sales. They did the best they could.
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