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While small businesses continue to struggle and, in many cases, permanently close across the country due to pandemic restrictions, large corporations are growing stronger, according to a Washington Post analysis of economic and earnings data.
In most U.S. business sectors, big businesses and corporations have prospered despite the ongoing coronavirus pandemic and government restrictions, The Washington Post reported. But, small businesses have suffered seeing an overall decrease in revenue.
“These are times when the strong can get stronger,” Nike Chief Executive Officer John Donahoe said on a September conference call, The Wall Street Journal reported.
Nike reported in September net income of $1.5 billion for the period between June and August. Donahoe said Nike was positioned favorably in the “dynamic environment” in a statement following the company’s earnings call.