Should Investors Run Back To Nike?
The start of 2022 didn't treat Nike (NYSE: NKE) stock well as sales in the company's important China region tumbled. In its fiscal quarter ended Nov. 30, 2021, Nike's revenue from the Greater China region dropped 24% excluding currency changes, leading to stagnation in its overall year-over-year sales.
Add to that supply chain issues and inflation leading to higher freight and raw material costs, and shares dropped 30% by the middle of March. But consumers remain resilient, and the company has worked to control what it can, resulting in a fiscal 2022 third quarter that surpassed analyst expectations and reignited investor interest.
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Source Fool.com
