Profile Of The Week: Nike

Published on .

Nike's stock stumbled despite last week's announcement of a new unit to focus on women's products. Nike expects women eventually to account for 30% of sales; women now generate 20% of sales, or $1.55 billion. But Nike's shares sank nearly 12% Aug. 22 after a J.P. Morgan Co. analyst lowered her second-half sales growth forecast to 6%, off from 8.5%, for Nike footwear. The analyst cited overall retail sluggishness, but said Nike's long-term outlook is good. In trading Friday, Nike closed at $42.50, off 10.88% for the week.
In this article:
Most Popular