March 13, 2020
Athleta sales, which parent GPS now breaks out separately, increased 10% to $288 million from $263 million in the fourth quarter and were up 11% in 2019 to $978 million from $881 million, with operating income said to be up low-double digits.
Net loss at the struggling licensor expanded to $10,779,000 in the fourth quarter from a loss of $2,193,000 last year on 31% lower licensing revenues of $24,245,000 down from $35,246,000.
In addition to the widespread event cancellations this week, coronavirus fears are also impacting the workplace, with Nike encouraging all U.S. employees, including the 12,600 that work at it Oregon headquarters, to work remotely for two weeks from Mar. 16 - 31.