Is Nike Stock a Buy?
When it comes to selecting great stocks to own, I always start by looking at market leaders. After all, companies that sit at the top of their industry should be doing something right that enables them to command that leadership position. Nike (NYSE: NKE) is one such company within the sports footwear and apparel industry. It has been able to grow its global market share in athletic footwear from around 16.8% in 2011 to around 27% in 2019.
Even when Nike was faced with tough challenges last year brought about by the COVID-19 pandemic, the company managed to post a credible performance for its fiscal 2020 earnings, with revenue falling just 4% year over year to $37.4 billion despite the temporary closure of the majority of its global stores.
With the pandemic still raging in many parts of the world, can Nike still manage to navigate rough seas to post steady growth? Does this qualify the sports giant as a buy?
Source Fool.com
