Nike (NKE) reported Q4 ’16 profits and revenue on Thursday, that exceeded analyst expectations ($.60/share vs. $.50/share and $8.68 Billion vs. $8.63 Billion, respectively). The company said international geographies and its direct to consumer business fueled the growth. Analysts and investors were told to expect mid to high single digit growth in 2018.
Nike tops Wall Street expectations; confirms deal with Amazon
Howie Long-Short opines: The beauty of low expectations. Under Armour (UAA) and Adidas (ADDYY) have been cutting into Nike’s market share recently, but this is a good start.
Fan Marino says: Nike started selling Air Jordans in 1985 and the company is reporting Jordan Brand saw strong growth in 2016. Can you imagine Steph Curry still selling shoes for Under Armour in 2046? Yeah, me neither.