Nike posts surprise loss as COVID-19 hits wholesale business

(Reuters) - Nike Inc on Thursday reported an unexpected quarterly loss - its first in more than two years - hurt by closures of department and retail stores due to lockdowns spurred by the COVID-19 pandemic.The footwear maker's shares fell about 4% in after-hours trading.The wholesale business, through which Nike sells merchandise to other retailers, came to a halt amid the health crisis. That led to a 50% fall in shipments, increased inventory and higher costs due to order cancellations.As a..