Business valuation consultancy Brand Finance recently released its annual rankings of apparel brands according to brand value, and Nike has retained its top spot with a value of $34.8 billion, a 7% increase over last year.
Nike (NYSE: NKE) delivered an excellent third quarter report at the end of March just prior to the shutdown in the U.S. caused by the coronavirus. However, the numbers were lower than usual thanks to store closures in China. China is the company's fastest growing market, so those closures put the brakes on high growth, but the recent reopening spells some good fortune for Nike as it will have to absorb losses from store closures in the U.S. and other markets.
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