Jun
29
Nike Shows Signs of Rebound After Rocky Year
Posted in: Uncategorized
After a sales slowdown and job cuts this year, Nike is giving investors reason to be optimistic again.
The athletic brand posted earnings of 60 cents a share for the latest quarter, beating the 50 cents predicted by analysts. The results sent the shares up as much as 4.4% in late trading on Thursday.
The performance is helping ease investor fears that Nike is losing its edge to rivals, especially Adidas AG. The company rattled shareholders three months ago with disappointing sales, signaling that Adidas and Under Armour were grabbing market share. The latest results suggest Nike is better defending its turf — especially in overseas markets.
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