The Nike Rebound Is Almost Complete
Nike's (NYSE: NKE) fiscal 2021 is off to a fast start. The footwear giant this week reported surprisingly strong operating results through late August as its business mended from COVID-19 disruptions in key markets like China, Latin America, and the U.S.
Sales are still shrinking in many geographies, but Nike's overall results point to a potentially sharp growth rebound over the next few quarters. Let's take a closer look.
Nike notched solid demand improvements in both China and the U.S., the countries that most directly impact its global growth profile. Sales in the China region grew 8% year over year compared to a 1% uptick last quarter. That segment posted a 4% year-over-year slump in fiscal Q3 2020 as COVID-19 ended Nike's 22-quarter streak of double-digit growth there.
Source Fool.com
