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Nike faces Covid with its results and the market sees it as a "winner"


Nike It has passed through the confessional on Tuesday and, as the experts predicted, has presented figures in which it seems to have exceeded the flocks caused by the coronavirus. The sports brand has declared revenues of 10.6 billion dollars, a figure above what the consensus estimated, which spoke of 8.890 million.

The closures that have occurred around the world have forced Nike to bet on online sales, a gamble that did not save the company from posting significant losses in the previous quarter. Its turnover fell 38% to stand at 6,310 million.

However, Nike seems to have left past losses behind and the market knows it. Its shares are up 8% on Wall Street after hours, which includes after-hours trading. Analysts consider him a "winner". The consensus appreciates that it has focused on direct consumer offers.

“The decision to stop selling to nine multi-brand wholesale accounts is a positive one for Nike as take control of more of your own destiny”, Assure the Susquehanna Financial Group analysts.

"With the results we strengthen our position in the midst of disruption, ”explains John Donahoe, Nike's president and CEO. The vice president has spoken in a very similar line. "Nike is recovering faster thanks to accelerating brand momentum and digital growth, as well as our relentless focus on normalizing market supply and demand."

Analysts positively value Nike shares, which are currently trading at around $ 125, topping the $ 117 level. "Exceeding this level puts the free rise value with the clear path to end up seeing an extension of the gains until the level of 140 dollars ", explains César Nuez, technical analyst of ForexNews.online and head of Trader Watch.


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