A significant % of Nike's sales come from company stores in malls and outlet centers, so Covid-19 has shut down a significant % of Nike sales. And also "trapped" stock in those locations. I'm oversimplifying, ignoring online sales some of which are from online-only sellers. On the demand side, running events in many states were shut down, gyms were shut down, and outdoor use (running, athletic events, park pick-up games, etc.) much reduced. So probably every shoe company has been impacted to a significant degree, not that I'd complain if I'm wrong on that point.