Nike reports $790M loss after Covid forces store closures

Nike on Thursday reported a major loss, of $790 million, as well as quarterly revenue $1 billion below Wall Street expectations during its fiscal fourth-quarter. The company said Covid forced mass store closures in North America. However, Nike's digital sales continue to accelerate, climbing 75 percent in the quarter. The Washington County-based sportswear company reported $6.3 billion in fiscal fourth-quarter revenue, below the $7.3 billion expected by stock analysts. The company's loss came…