NKE - NIKE, Inc.
| Previous close | 103.37 |
| Open | 103.53 |
| Bid | 103.11 x 800 |
| Ask | 103.69 x 1000 |
| Day's range | 102.44 - 103.89 |
| 52-week range | 77.07 - 105.62 |
| Volume | 4,305,480 |
| Avg. volume | 5,848,437 |
| Market cap | 161.25B |
| Beta (5Y monthly) | 0.84 |
| PE ratio (TTM) | 36.20 |
| EPS (TTM) | 2.86 |
| Earnings date | 18 Mar 2020 - 22 Mar 2020 |
| Forward dividend & yield | 0.98 (0.95%) |
| Ex-dividend date | 28 Nov 2019 |
| 1y target est | 110.37 |
- Yahoo Finance
Stock market news live: S&P 500, Nasdaq narrowly eke out record closes
Headlines moving the stock market in real time.
- Yahoo Finance
Boeing, Apple, Google top growing list of companies warning about a coronavirus impact
Yahoo Finance is maintaining a working list companies that have been affected by the outbreak, and are expected to feel the effects through the first half of the year.
- Yahoo Finance
Why Under Armour's performance is really disturbing
It could be a bad 2020 for Under Armour.
- Business Wire
NIKE, Inc. Declares $0.245 Quarterly Dividend
NIKE, Inc. (NYSE: NKE) announced today that its Board of Directors has declared a quarterly cash dividend of $0.245 per share on the company’s outstanding Class A and Class B Common Stock payable on April 1, 2020 to shareholders of record at the close of business March 2, 2020.
- Yahoo Finance
Celebrity dancers tWitch and Allison Holker on the biggest investing lessons they've learned
Entertainers Stephen “tWitch” Boss and Allison Holker discuss personal finance with Yahoo Finance's "The First Trade."
- Zacks
Nike (NKE) Flat As Market Gains: What You Should Know
In the latest trading session, Nike (NKE) closed at $100.02, marking no change from the previous day.
- Yahoo Finance
Under Armour CEO Patrik Frisk: 'I'm not satisfied with where we are today'
Under Armour’s struggles in North America showed up in its Q4 earnings results. “I’m not satisfied with where we are today,” said new Under Armour CEO Patrik Frisk, who took over for the company’s first CEO and founder Kevin Plank in January.
- Bloomberg
Under Armour's New CEO Makes an Ugly Start
(Bloomberg Opinion) -- Any new chief executive likes to make their own mark. For Patrik Frisk, who took the helm of Under Armour Inc. last month, there’s even more reason than most. While founder Kevin Plank has ceded the role of CEO, he’s staying around as chairman and brand chief at the maker of athletic apparel.At first glance, the surprise sales and profit warning that Frisk, who spent two-and-a-half years as chief operating officer, announced on Tuesday, looks like the last thing he would have wanted to unleash on investors during his first update. And that’s not all: Under Armour is also considering another restructuring,To be fair, some of the cut to revenue guidance is down to the coronavirus – a risk shared with rivals Nike Inc. and Adidas AG. But it is also due to a decline in sales in North America, where efforts to rein in discounting and concentrate on the style, fit and performance of apparel have taken longer to bear fruit. Profit estimates were also lowered: The mid-point of the $105 million to $125 million range would imply a halving of operating earnings from 2019, according analysts at Bernstein.The big downgrade is clearly unwelcome to investors, who may be forgiven for thinking they have been here before. The group has been restructuring, including cutting jobs, for the past three years. However, such a dramatic lowering of guidance does provides more leeway to try to fix the U.S. business, where more work is clearly needed, and potentially scope to outperform later on. There were some bright spots. Under Armour’s gross margin, which expanded by 1.8 percentage points in 2019, is forecast to widen by another 0.3 to 0.5 percentage point this year. Inventories are also falling, and the wholesale market is showing signs of stabilizing.Under Armour’s reduced outlook also paves the way for more cost-cutting. Taking an ax to expenditure could lead to savings of $30 million to $50 million in 2020, even though this could cost as much as $425 million in pre-tax charges. Of this, $225 million to $250 million relates to the possibility of foregoing opening a flagship store in New York. Pausing this project looks wise given the outlook. So Frisk may be erring on the side of caution as he takes the reins.But there’s still considerable uncertainty as to whether Under Armour’s strategy — focused foremost on performance rather than fashion — will pay off. Meanwhile, competition from Nike and Adidas isn’t getting any easier, with the latter pushing ahead with its collaboration with Beyonce. Add in a federal investigation into Under Armour’s accounting practices, and whether Plank will be able to relinquish some control and the outlook remains highly uncertain.After under-promising, Frisk has little choice but to over-deliver.To contact the author of this story: Andrea Felsted at afelsted@bloomberg.netTo contact the editor responsible for this story: Beth Williams at bewilliams@bloomberg.netThis column does not necessarily reflect the opinion of Bloomberg LP and its owners.Andrea Felsted is a Bloomberg Opinion columnist covering the consumer and retail industries. She previously worked at the Financial Times.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- Bloomberg
Nordstrom Bets on Used Clothes, But the Market Is a Bit Threadbare
(Bloomberg Opinion) -- Nordstrom Inc.’s seven-story New York flagship at Broadway and 57th Street is home to a velvet-lined Nike boutique, a facial massage studio, a martini bar in the heart of the shoe floor and lots of expensive new merchandise. That’s how it’s always been at Nordstrom. But last month brought something new with the opening of See You Tomorrow, a luxury apparel resale boutique inside the flagship. Shoppers will find returned and damaged goods sourced from other Nordstrom stores and — because it’s a resale shop — they’re welcome to sell their own high-end apparel for store credit.Nordstrom isn’t the first department store to try resale. In 2019, Macy’s Inc. and J.C.Penney Co. Inc. preceded Nordstrom into the business, lured by younger shoppers concerned with the environmental footprint of their consumption. But long term, resale’s biggest impact on retailing won’t be the growing sections of department stores devoted to used clothes. The most profound shift will be if manufacturers are compelled to make better quality, more durable clothes that consumers perceive as having value in the secondhand economy.Consumers have complained about the declining quality and durability of clothing for decades. But the complaints became louder and more serious as (primarily) Asian manufacturers became adept at quickly meeting consumer demand for low-cost versions of the latest trends. To do so, the manufacturers skimp on quality. For example, they’ll reduce thread counts, making garments more flimsy and less likely to survive multiple wears and washes. Those low-quality garments have no market in resale shops or on resale apps. And the stuff that can’t be resold or recycled is growing faster than the stuff that can. Between 2003 and 2017, the amount of apparel sold globally nearly doubled, while the number of times a garment was worn dropped by more than a third. All that unworn and ultimately unwanted apparel piles up: In 2017, 14.3 million tons of textiles were landfilled or incinerated in the U.S. — a 623% increase over 1970.These facts are increasingly well-known to American consumers, many of whom say they want to buy purpose-driven, sustainable brands. According to ThredUp Inc., a major online fashion resale platform and the primary source for the resale industry’s data, 59% of consumers expect retailers to create clothes ethically and sustainably. It’s impossible to objectively judge how many retailers meet that expectation. More likely than not, it’s a small number and they charge premium prices. So, in the absence of certainty and a willingness to spend, increasing numbers of consumers are opting for a secondhand retail experience. According to ThredUp’s data, the secondhand apparel market — everything from thrift stores to Nordstrom to ThredUp itself — more than doubled between 2012 and 2018, to $24 billion, and should exceed the fast fashion market by 2028. That expansion is being driven across demographics, but especially among those 18-24, 37% of whom said they would buy secondhand in 2019.However, all of this growth is theoretically constrained by two supply bottlenecks. First, consumers need incentives to sell stuff from their own closets. Second, there needs to be enough decent apparel worth selling to keep the market going. The first problem has largely been solved by online platforms like ThredUp and PoshMark Inc., which enable selling (and buying) through intuitive apps.Historically, the second question has been solved by the market. For example, the resale value of a new car is such a crucial consideration for buyers that automakers advertise how well their models retain it — and manufacture accordingly. Today, 40% of consumers say, according to the ThredUp report, that they incorporate resale value into their purchasing decisions beyond just cars, to include items like furniture to apparel. That’s a major shift in consumer behavior.Last year, Ikea announced a rental program that — among other benefits — is giving the cheap flat-pack furniture maker insights into wear and tear. It’s incorporating that information back into its designs, so items can be sold or rented, over and over again. Similarly, clothing rental juggernaut Rent the Runway Inc. shares its data with designers so that they can learn from it. One fashion label executive summarized the findings as: “How many times do our dresses get dry-cleaned and still come back as new?” The answer won’t only affect Rent the Runway. Last month, Nordstrom announced that it would begin selling garments pulled from Rent the Runway circulation at its discount Nordstrom Rack stores. Presumably, they’ll be able to last a few more dry cleans.Of course, shoppers at Nordstrom’s New York flagship can take resale value for granted. But the mere fact that Nordstrom is offering the option to sell back apparel in the same store from which it was purchased marks a profound shift in how consumers, retailers and manufacturers will perceive shopping and ownership. In coming years, that shift should result in better quality stuff for everyone.To contact the author of this story: Adam Minter at aminter@bloomberg.netTo contact the editor responsible for this story: Stacey Shick at sshick@bloomberg.netThis column does not necessarily reflect the opinion of Bloomberg LP and its owners.Adam Minter is a Bloomberg Opinion columnist. He is the author of “Junkyard Planet: Travels in the Billion-Dollar Trash Trade” and the forthcoming "Secondhand: Travels in the New Global Garage Sale."For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- Yahoo Finance
Powell heads to Capitol Hill, plus Under Armour, Lyft earnings: What to know in markets Tuesday
Federal Reserve Chairman Jay Powell heads to Capitol Hill for two days of testimony, plus Under Armour and Lyft deliver fourth quarter results Tuesday.
- Bloomberg
China Outbreak to Spur Higher Prices as Farm Links Disrupted
(Bloomberg) -- China’s consumer prices rose the fastest in more than eight years last month, with the outbreak of the coronavirus and subsequent shutdowns of transport links across the country making further gains in the coming months likely.Consumer prices rose 5.4%, with food prices jumping the most since 2008 in January. Even before the coronavirus, prices were likely to have risen sharply due to the normal spike in demand around the Lunar New Year and the effects of the African Swine Fever outbreak which has killed millions of pigs and damaged pork supplies. Pork prices gained the most on record.The dramatically worsening coronavirus situation in the last 10 days of the month exacerbated those factors and could prolong the high prices. That will not only hurt consumption domestically, but could push up prices globally, with extended shutdowns in China hurting supplies of various industrial goods and exported foods.“The virus outbreak has rewritten the supply and demand story in China, with supply staying at a relatively low level except for the medical sector and demand also falling,” said Tommy Xie, an economist at Oversea-Chinese Banking Corp in Singapore. “Prices will likely continue to rise due to weak supply.”The fallout will also impact foreign companies with production or sales in China, and may well lead to rising prices for consumer goods in the U.S. and elsewhere if factories can’t restart soon.Apple Inc.’s main iPhone production partner has told employees at its Shenzhen facility not to return to work Monday when the extended Lunar New Year break ends, and its production resumption hinges on the government’s guidance.‘Nightmare’ for Global Tech: Coronavirus Fallout Just BeginningOther multinationals with footprints in China are already seeing disruptions. Nike Inc. closed about half of its company-owned stores in China and rival brand Adidas AG also said it has closed a significant number of stores in China, as a result of the outbreak, Bloomberg reported last week.The rise in CPI was mainly due to the Lunar New Year and the coronavirus epidemic, and also due to a lower base last year as the holiday was in February 2019, the National Bureau of Statistics said in a statement.What Bloomberg’s Economists Say...“Looking ahead, CPI inflation is likely to be volatile. The impact of the virus could cause prices of food, such as vegetables, to rise further. On the other hand, it could reduce household demand, sapping inflationary pressures.”\-- David Qu, Bloomberg EconomicsClick here for the full noteChinese farmers are feeling the pain as authorities have ordered shutdowns and road blockages in various cities and areas in an attempt to contain the spread of the illness. Roads to transport animal feed and farm products were blocked, leaving farmers to watch their poultry starve and farm products go bad.Sun Dawu, founder of Hebei Dawu Agriculture and Livestock Group, wrote on Weibo on Jan. 30 that his company had to “dispose” of about 5,000 kilograms of fresh eggs and 40,0000 baby chickens on a daily basis, because “we aren’t able sell these, and even if we managed to sell to merchants, they dare not trade livestock.”“The animal feed and animal farming industries are about to get burnt,” he said in another post on Weibo, China’s equivalent of Twitter, on Feb 4.Right now the main problem his company is facing is road blockages, according to a company manager called Yang, who only gave his last name. “It has got better, but there are still some extremes cases where our trucks aren’t allowed to exit highways or enter villages,” he said Monday via phone.Blockages ForbiddenThe issue was so bad the Ministry of Agriculture was forced to intervene, last week ordering people not to intercept vehicles transporting animal feed and live animals, not to close slaughterhouses, and not to block village roads.Taobao, one of China’s biggest e-commerce platforms owned by Alibaba Group, has launched a campaign called “Foodies Help Farmers” to promote the sale of products from kiwi fruits to asparagus which have been disrupted. “Don’t let fruit and vegetables rot on the farms,” is the slogan.The faster inflation is benefiting some agricultural companies, at least in the short-term. The stock prices of Beijing Dabeinong Technology Group Co. and Heilongjiang Agriculture Co. both hit the 10% daily upside limit as of 11:14 a.m. local time, while Muyuan Foodstuff Co. jumped 8.2% and Wens Foodstuffs Group Co. climbed 5.5%.“After the virus is contained and lockdown measures are lifted, demand will likely recover more quickly than supply, which may be more or less delayed by a potential disruption of supply chains, resulting in rising CPI inflation,” Lu Ting, Nomura Holdings chief China economist, wrote in a report to clients last week.(Updates with impact on companies from fifth paragraph. The comment of an economist was corrected in an earlier version of this story.)\--With assistance from Tomoko Sato, Yinan Zhao, Miao Han and Ken Wang.To contact Bloomberg News staff for this story: Lin Zhu in Beijing at lzhu243@bloomberg.netTo contact the editors responsible for this story: Jeffrey Black at jblack25@bloomberg.net, James MaygerFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- Reuters - UK Focus
LIVE MARKETS-A red sea after record highs
You can share your thoughts with Thyagaraju Adinarayan (thyagaraju.adinarayan@tr.com), Joice Alves (joice.alves@tr.com), Julien Ponthus (julien.ponthus@tr.com) in London and Danilo Masoni (danilo.masoni@tr.com) in Milan. Many global retailers have come out with coronavirus warnings, shutting down some stores in mainland China, but there hasn't been much details on the financial impact.
- Reuters - UK Focus
LIVE MARKETS-Coronavirus impact on retailers: wait & watch
You can share your thoughts with Thyagaraju Adinarayan (thyagaraju.adinarayan@tr.com), Joice Alves (joice.alves@tr.com), Julien Ponthus (julien.ponthus@tr.com) in London and Danilo Masoni (danilo.masoni@tr.com) in Milan. Many global retailers have come out with coronavirus warnings, shutting down some stores in mainland China, but there hasn't been much details on the financial impact. For instance, Burberry today said 40% of its stores in mainland China are closed due to the fast-spreading virus but did not quantify the financial impact.
- Reuters
Nike launches new, legal Alphafly shoe to outrun 'tech doping' furore
Nike has launched a new running shoe that complies with limits set by World Athletics after the governing body imposed a landmark ban on a version of the sportswear giant's Vaporfly shoes that was used to run the first sub-two hour marathon. The first-ever shoe ban by World Athletics (WA) last week addressed concerns that technology advances are giving athletes an unfair and unnatural advantage, described by some critics as "technological doping". Nike has now duly launched the latest incarnation of the shoe - the Air Zoom Alphafly Next% - with one carbon plate and a sole thickness of 39.5mm, as well as newly added air pockets.
- Yahoo Finance
Nike's Olympic line-up could 'catalyze the stock:' UBS
As Nike gears up for the 2020 Summer Olympics in Tokyo, the global sportswear giant’s footwear offerings, like its newest apparel line, highlight not only sustainability but performance technology.
- Yahoo Finance
Analyst: Under Armour has 'peaked' in America
The last time Under Armour saw sales growth in the U.S. was Q2 2018. The brand has hit a peak on its home turf, says one analyst.
- Yahoo Finance
Nike pays tribute to Kobe Bryant at Olympic 2020 unveiling event
Nike unveiled its 2020 Olympic line last night at Hudson Yards, in New York City. But toward the end of the evening, the sportswear giant paid tribute to the memory of basketball legend Kobe Bryant, who was killed in a helicopter crash on January 26, along with his 13-year-old daughter Gianna and seven others.
- Zacks
Snap-on (SNA) Q4 Earnings Surpass Estimates, Sales Miss
Snap-on's (SNA) fourth-quarter 2019 earnings benefit from robust business model and effectiveness of its value-creation processes.
- Zacks
The Zacks Analyst Blog Highlights: Netflix, Eli Lilly, United Parcel Service, Microsoft and Nike
The Zacks Analyst Blog Highlights: Netflix, Eli Lilly, United Parcel Service, Microsoft and Nike
- Reuters
Nike carves out South American strategy in consumer focus push
Retail brand management firm Grupo Axo will acquire Nike's operations in Argentina, Chile and Uruguay, the company said, and Grupo SBF SA through its subsidiary will become the owner of the Nike's Brazilian operations. The transaction is expected in the third quarter of fiscal 2020, Nike said. The company said expanding this model in South America will help drive sustainable, profitable growth, but it will take a one-time charge of about $425 million related to foreign exchange.
- Business Wire
NIKE, Inc. Announces Strategic Distributor Partnerships In Brazil, Argentina, Chile and Uruguay
NIKE, Inc. (NYSE: NKE) today announced it is transitioning its Nike Brand business in Brazil, Argentina, Chile and Uruguay to strategic distributor partnerships, enabling a more profitable, capital efficient and value accretive business model. This move demonstrates Nike’s ongoing approach to optimize country operating models across its global portfolio, with sharpened focus and investment against its biggest growth opportunities through the Consumer Direct Offense.*
- Bloomberg
Peloton’s Miss on Quarterly Sales Outlook Overshadows Its Growth
(Bloomberg) -- Peloton Interactive Inc., the maker of internet-connected exercise equipment, said on Wednesday that sales in the current quarter would be lower than analysts’ estimates. That news overshadowed the company’s strong holiday earnings and optimistic sales projections for 2020, sending its stock tanking after-hours.New York-based Peloton said revenue in its fiscal third quarter would be $470 million to $480 million, missing the average projection of $494 million. The shares were down about 9% in extended trading.Peloton’s stock has had a rocky few months since its initial public offering in September. The company floundered in the months following its IPO, as investors questioned its ability to turn a profit. In December, following a brief recovery, the market gave Peloton another beating after one of its ads -- featuring a husband buying an exercise bike for his already-svelte wife -- was widely mocked on the internet. In after-hours trading, the share price hovered close to its IPO price of $29, well below its early-December highs.Besides the lower-than-expected sales outlook, Peloton’s second-ever quarterly financial report Wednesday included some upbeat news for investors. Sales rose to $466 million for the quarter ended Dec. 31, up 77% from a year earlier. It projected as much as $1.55 billion in revenue in 2020, higher than the average analyst estimate of $1.49 billion, according to data compiled by Bloomberg. And the company lost less money than analysts expected -- losing 20 cents a share in the last quarter, instead of the 33 cents a share Wall Street had anticipated.Peloton is best known for its stationary bikes, which are connected to a tablet that can live-stream spin classes, but it’s also made a push into other areas of home fitness. The company recently added an app for the Apple Watch that allows users to track workouts, as well as the ability to stream classes on Amazon’s Fire TV. And it sells a treadmill and a subscription-based app for live and on-demand classes.“Over 30% of classes taken in Q2 were not cycling,” said Peloton Chief Executive Officer John Foley in a conference call after the report. Other companies are making moves into digital fitness, he said, but added that Peloton plans to “maintain our lead” by enhancing the current product lineup and adding new offerings.Peloton said about 149,000 new subscribers signed up during the last quarter, bringing its total to 712,000. Peloton now anticipates it will have between 920,000 to 930,000 connected fitness subscribers this year, above its previous projection of as many as 895,000. Connected fitness subscribers are people who own a piece of Peloton hardware and pay a monthly subscription to access digital workouts -- a more lucrative category than people who pay for its app alone.“We believe we will continue to see strong conversion from digital members into connected fitness members,” Foley said.Another silver lining for the company was its performance over the holidays. Despite the outpouring of social media scorn that accompanied its Christmastime advertisement, the buzz didn’t seem to hurt Peloton’s performance. In fact, it may have helped.“Peloton’s ad proved beneficial, amplifying the brand and driving record search trends across markets,” Raymond James analyst Justin Patterson wrote in a note to clients before the earnings report. “Peloton’s combination of brand, content breadth and bricks-and-mortar presence provide a customer acquisition and retention edge.”Investors have previously expressed concern over how much Peloton can grow its market given the high price of the equipment it sells, and the increasing competition from products like Mirror and workout apps from Nike Inc. and Aaptiv Inc.JPMorgan analyst Douglas Anmuth wrote in a recent note that he expects Peloton to outperform in 2020, saying the stock was one of his team’s top picks, but adding, it’s “also one of the most debated.”(Updates with context throughout.)To contact the reporter on this story: Julie Verhage in New York at jverhage2@bloomberg.netTo contact the editors responsible for this story: Mark Milian at mmilian@bloomberg.net, Molly Schuetz, Anne VanderMeyFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- Zacks
Nike (NKE) Stock Sinks As Market Gains: What You Should Know
Nike (NKE) closed the most recent trading day at $100.54, moving -0.83% from the previous trading session.
- Yahoo Finance
Nike’s Tokyo Olympic apparel is made out of 60% recycled material
Nike is gearing up for the 2020 Summer Olympics in Tokyo with a lineup of footwear and apparel that mixes technology and sustainability in an effort call attention to the need for climate action. And the Swoosh brand’s presence will be felt everywhere from the track to the court to the halfpipe — and even the medal stands.
