Nike Has an Answer to Inflation
Shares of Nike (NYSE: NKE) are down 20% year to date, but at the time of this writing, the stock is up 2.5% since reporting earnings on March 21. The swoosh beat estimates for revenue and earnings per share, and management reiterated its full-year outlook despite inflationary pressures and supply chain obstacles.
Inflation has been a cloud hanging over consumer and retail companies lately. Higher costs to import goods from factories overseas have created uncertainty around near-term profitability, but Nike's latest earnings results show it has the demand for its product to weather the storm.
Let's look at a few details from the latest quarter that showcase this inflation-proof business.
Source Fool.com
