Nike Posts a Solid Quarter and Issues Strong Guidance
publication date: Sep 26, 2019
Image Shown: Shares of Nike Inc pop on September 25 after reporting a strong first quarter for fiscal 2020 and issuing favorable guidance for the full fiscal year.
Nike reported earnings for the first quarter of its fiscal 2020 (ended August 31) on September 24 and investors clearly liked what they saw. The firm has been performing quite well given foreign currency headwinds and the ongoing US-China trade war, and it’s clear that hasn’t undermined core demand for its popular sportswear and equipment products. We are still staying on the sidelines given how shares of NKE are richly valued, in our view.
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