Nike says coronavirus having 'material' impact on its business, as stores in the U.S. start to reopen

Nike said it has started reopening stores in more than 15 countries including Germany, France, the Netherlands, Brazil and the U.S.

The athletic apparel and footwear maker said all of its owned stores and more than 95% of its partner stores in Greater China and South Korea are back up and running. It said traffic is "progressing" in those regions, however store traffic remains below prior-year levels. Nike said it sees "continued strong" demand from consumers online, offsetting some of those losses.

"With our strong digital foundation, brand momentum and financial position, we believe this will be a catalyzing moment that strengthens Nike's long-term future," he added. Nike said Thursday it is seeing increased traffic and engagement on its mobile apps and website, "partially offsetting" declines in its stores.

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