The retail numbers may have come in worse than expected on Friday, May 15, but there is some positive news in the retail sector.
Nike is working on opening up locations outside of Asia.
The company said it has reopened a small number of stores in the U.S., Germany, France, the Netherlands, and Brazil, many with reduced hours.
"We are operating in a dynamic environment that will continue to evolve," the athletic apparel maker said in a statement. "Furthermore, the full extent of the impact of the Covid-19 pandemic on Nike's operational and financial performance remains uncertain and will depend on many factors outside of Nike's control.
Nike said more than 95% of its stores in China and South Korea were open, though physical store traffic "remains below prior-year levels, this is largely offset by higher conversion rates and continued strong digital demand."
"Additional updates will be provided during our fourth-quarter earnings call, " the company said. The next earnings are expected to be released on June 20.
Jim Cramer said, "it's really exciting!"