Where Will Nike Be in 1 Year?
Nike (NYSE: NKE) had a roller-coaster ride of a year in 2020. After falling more than 30% in the first three months of the year, the stock price has more than doubled since. Stores are now mostly back open, and management feels confident about the company's strong momentum in 2021 and beyond.
Rising sales and profits will, of course, propel Nike to new heights. That would be the case for any sporting goods retailer. But the company's efforts over the past year to continue generating those rising sales and profits are providing some important clues about this company's future, and especially where this consumer discretionary stock will be one year from now.
A revenue increase of 9% in fiscal Q2 2021 (ended Nov. 30) signals the return to growth for Nike following a small drop in the previous quarter. The business will depend on its Greater China segment for gains. That region's 24% growth in the quarter far outperformed the other geographies.
Source Fool.com
