Company Of The Day: Nike

June 28th, 2021 by Trefis Team
+36.32%
Upside
103
Market
140
Trefis
NKE: Nike logo
NKE
Nike

What?

Nike (NYSE:NKE) posted a strong set of Q4 FY’21 results, with revenue growing by over 96% year-over-year to $12.3 billion, well ahead of street estimates. EPS stood at $0.93, compared to a loss last year.

Why?

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The results were driven by strong consumer demand for athletic apparel and footwear as the economy continues to open following Covid-19.

So What?

Nike stock jumped by over 15% in Friday’s trading, following the earnings report. Nike’s robust earnings indicate that the broader sporting goods and apparel sector could also see a quicker than expected rebound post-Covid.

See Our Complete Analysis For Nike

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