Here's My Top Stock to Buy in October
The coronavirus pandemic has been a massive challenge for retailers in 2020, but the crisis has accelerated digital trends in consumer behavior that could benefit those willing to adapt. I think Nike (NYSE: NKE) will bounce back from the crisis stronger than ever because of its rapidly growing online business. Let's dig a little deeper to find out why this footwear company is poised for continued success.
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Nike was slammed by the coronavirus pandemic, which disrupted supply chains and closed down its retail outlets in the fiscal fourth-quarter -- sending revenue down 38% to $6.3 billion. But management used the crisis as an opportunity to accelerate the company's transition to a digital business model, which could improve margins and boost profitability over the long term.
Source Fool.com
