How Will Nike Fare in Its Fourth Quarter?
Nike (NYSE: NKE) scored a victory in its fiscal third quarter with a 5% increase in sales despite store closures in China. But that's not likely to happen in the fiscal fourth quarter when stores were shut down in the U.S., its largest market, for two months. The big questions are: How bad will the damage be, and how long will the effects last?
Nike has a long history of sales growth as the dominant brand in athletic footwear and apparel. It has built up an extensive pipeline with innovative, technologically advanced products that dictate the new styles in the industry each season.
And its popularity is not limited only to athletes. It's the No. 1 apparel brand according to Forbes, coming in as the 14th most valuable brand overall. It consistently takes the top spot in Piper Sandler's annual teen survey for No. 1 retail brand, where it gained share in the most recent report.
Source Fool.com
