Nike reported its net loss for Q4 slipped on Thursday. Revenues slipped by 38 percent from the same period last year.

For Q4, the company's net profit was -790 million dollars, which decreased from 989 million dollars last year. Revenues slipped to 6,313 million dollars. Compared to 10 percent a year ago, the profit margin of the company dropped to -13 percent.

Nike, Inc. (NYSE: NKE) is an American sporting goods corporation that designs, develops and manufactures sports footwear, apparel, equipment and accessories. Nike is one of the world's largest suppliers of athletic shoes and apparel and a major manufacturer of sports equipment. Next to Nike, the company also owns the Air Jordan, Converse and Hurley brands.

As of 2020, Nike has more than 76,700 employees and operates over 1,200 stores.

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