1 Billion New Reasons to Be Optimistic About Nike Stock
Nike (NYSE: NKE) is still reeling from factory shutdowns and other supply chain challenges tied to the COVID-19 pandemic. That clogged pipeline was a major takeaway from its recent earnings report that showed flat sales in the fiscal second quarter of 2022.
But the footwear giant had good news for investors, too, including a boost to its profit outlook. Executives also affirmed their forecast for modest sales growth this fiscal year despite the headwinds coming from another round of economic restrictions across key markets like China and Europe.
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Source Fool.com
