Nike Could Trip Over Soaring Numbers of COVID Cases in Vietnam
The market paid no heed to reports that Nike (NYSE: NKE) might run out of sneakers because of rising COVID-19 cases in Vietnam, sending the footwear maker's stock even higher. But with half its seaborne sneaker shipments at risk, the company could stumble just as the back-to-school season gets into full swing.
Yet Nike is not the only business that could feel the ill effects of the coronavirus outbreak. Everyone from Apple to Walmart relies heavily upon Vietnam for supplies, and with COVID-19 cases reaching record levels in the country, factories are shutting down to contain the spread.
Coupled with logjams at U.S. West Coast ports, there could be even greater dislocations in retail supply chains.
Source Fool.com
