Nike will temporarily close all US retail stores for 2 weeks to limit the spread of the coronavirus pandemic

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Nike will temporarily close all US retail stores for 2 weeks to limit the spread of the coronavirus pandemic
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  • Nike is closing many of its stores across the world due to the coronavirus pandemic.
  • Starting on March 16, Nike stores in the US, Canada, Western Europe, Australia, and New Zealand will stay shut down through March 27.
  • In a statement, the retail giant said the closures are meant to limit the spread of the novel coronavirus, which has rapidly spread across the globe, infecting more than 150,000 people and killing over 5,700.
  • Nike stores in South Korea, Japan, and most of China will remain open with normal operations, the company added.
  • Visit Business Insider's homepage for more stories.

After temporarily shuttering its corporate headquarters in Beaverton, Oregon, two weeks ago, Nike is now closing many of its retail stores across the US due to coronavirus concerns.

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In a statement released Sunday, the retail giant said it is closing all of its stores in the US, Canada, Western Europe, Australia, and New Zealand to limit the spread of the virus. These stores will close from March 16 through March 27.

Affected workers will still be paid in full during this period, a Nike spokesperson told CNBC.

The coronavirus has rapidly spread around the world, infecting more than 150,000 people and killing over 5,700. On March 11, the World Health Organization classified the outbreak as a pandemic. The crisis has roiled financial markets, led to school closures across the US, and the canceling of major public events.

Now, major corporations like Nike are taking drastic measures to prevent further spread of coronavirus. On March 14, Apple announced it will close all of its stores outside of China until March 27.

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While Nike has reopened its Oregon headquarters, the company is encouraging US-based employees to work from home starting on March 16 through the end of the month, according to the retailer.

"We will continue to monitor developments and make decisions that prioritize the safety of our teammates as necessary," the company said in a March 13 statement.

Like the vast majority of retailers, Nike has felt the weight of the coronavirus outbreak on its stock. The retailer's share price has fallen slightly more than 25% since the beginning of 2020, wiping out more than $40 billion in the company's market value.

Read the full statement from Nike below:

"The well-being of our teammates and consumers is our top priority so we have decided to close our stores in multiple countries around the world including in the United States, Canada, Western Europe, Australia and New Zealand to limit the spread of the Coronavirus (COVID-19). These closures will go into effect from Monday, March 16 through Friday, March 27. Customers can continue to shop on Nike.com and on our Nike apps.

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We are taking additional steps in other Nike-managed facilities, including the option to work from home, staggered work schedules, social distancing and additional safety and cleaning steps to help protect and support our teammates.

Our Nike-owned stores in South Korea, Japan, most of China and in many other countries are currently open and will continue their normal operations."

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