Or more like UnSwoosh !
So Nike, just released it's quarterly earnings and a couple of quick takeaways
▸ Growth is slowing. The days of riding the "athleisure" trend to new highs are over.
▸ There's increased competition from the likes of UnderArmour and a recently resurgent Adidas.
▸ Apparently there were 3 analyst downgrades for Nike pretty recently and it did translate to a weak earnings report.
▸ On the positive side, China sales are growing.
▸ LeBron (Nike ambassador) just won the championship, so should result in some momentum going forward.
▸ The rio olympics are coming up, should be a positive catalyst.
▸ Overall though I am going to be on the sidelines with Nike, wait and watch. (I have owned Nike stock for a while.)
▸ LeBron (Nike ambassador) just won the championship, so should result in some momentum going forward.
▸ The rio olympics are coming up, should be a positive catalyst.
▸ Overall though I am going to be on the sidelines with Nike, wait and watch. (I have owned Nike stock for a while.)
App Pitch:
And this is why individual investors should watch earnings. While we are on the subject of investing, here's an iphone app to help you keep track of earnings.
Knotifi : Stock market earnings,product and economic events
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• The contents of this blog are the personal opinions and investment choices of the writer. Please don't treat them as investment recommendations.
• I have a long position in NKE.
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