|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||139.89 - 141.05|
|52 Week Range||101.48 - 144.29|
|Beta (3Y Monthly)||0.90|
|PE Ratio (TTM)||31.48|
|Forward Dividend & Yield||1.88 (1.46%)|
|1y Target Est||N/A|
More than 170 footwear companies signed a letter sent to President Trump urging him to not go ahead with extra tariffs on $300 billion of Chinese goods. The letter was signed by footwear industry heavyweights such as Nike, Adidas, Crocs, and Under Armour, among others.
“They want Biden so that China can continue to make $500 billion dollars a year and more ripping off the United States,” Trump said at rally in Montoursville, Pennsylvania, on behalf of a Republican running in a special election for the House. Biden downplayed China while campaigning in Iowa City, Iowa, on May 1, drawing criticism from some of the other Democrats challenging him for the party’s nomination.
MADRID (AP) — Spain says it is ending its soccer contract with Adidas and has opened negotiations with other apparel companies.
The hype around sneakers is at an all-time high. The industry has been buzzing for years, evidenced by the rise of sneaker resale platforms, two of which, StockX and Poison , just hit unicorn status; the ...
Adidas will extend its sponsorship of Spanish soccer side Real Madrid until 2028, the German sportswear firm said on Wednesday, as it battles fierce competition in Europe from Nike and a resurgent Puma. Adidas has seen its leadership in soccer eroded in recent years by the advance of its bigger U.S. competitor Nike, which sponsors Real Madrid's arch rivals Barcelona and is reportedly in talks with Liverpool, second in the English Premier League. It also underpins Adidas' leadership in the football category," Chief Executive Kasper Rorsted said in a statement.
Shares of Nike (NYSE:NKE) have been red hot for the past year and a half, rallying roughly 80% from their $50 lows in late 2017, to fresh all-time highs around $90 just a few weeks ago. But Nike stock is pulling back in early May, amid a stock-market selloff sparked by renewed trade war threats.Source: Shutterstock As of this writing, Nike stock is 7% off its recent highs, marking the biggest drop in NKE stock in 2019. * 10 Great Stocks to Buy on Dips Investors should perceive the recent weakness of Nike stock as a buying opportunity.InvestorPlace - Stock Market News, Stock Advice & Trading TipsIn general, Nike is firing on all cylinders and extending its leadership position in an athletic-apparel market that has been, still is, and will remain on fire. This favorable positioning sets NKE up to report healthy, robust revenue and profit growth for the foreseeable future. As a result, Nike stock will stay on a healthy medium to long-term uptrend.Further, with respect to the near-term, NKE has a few major fundamental catalysts on the horizon which should get many investors to buy Nike stock soon.All in all, it won't be long before Nike stock is making new all time highs. Consequently, NKE stock should be bought on its recent weakness. The Athletic Apparel Space Remains Red HotThere are five reasons to buy the dip of Nike stock in May. The first of those five reasons is that athletic apparel remains as hot and in-demand as ever.Adidas (OTCMKTS:ADDYY) just reported another stellar quarter which dazzled investors and sent that stock up to all-time highs. Lululemon (NASDAQ:LULU) has been on fire for a long time and has only improved in recent quarters. Under Armour (NYSE:UAA) just reported its best numbers in recent memory, including a 25% sales jump in the Asia-Pacific region.Everywhere you look, athletic apparel is still on fire. Nike is the unchallenged king of this space. As a result, as long as the athletic-apparel industry remains red hot, so will Nike. NKE Hasn't Experienced Any Trouble in ChinaThe second big reason to buy Nike stock on weakness is that the company has proven largely resilient to trade-war noise.Specifically, in late 2018, many U.S. companies, including Apple (NASDAQ:AAPL), reported that their China businesses had weakened thanks to slowing economic conditions sparked by the trade conflict. Nike was not one of those companies. Instead, Nike's China business remained healthy and vigorous. Throughout all of fiscal 2018, NKE's China sales rose 18%. Its China sales rose 20% in the first quarter of 2019, 31% in Q2, and 24% in Q3.In other words, Nike's China business has yet to be negatively impacted by trade-war issues or the slowing Chinese economy. Consequently, the current weakness of Nike stock seems overstated. Tiger Woods Is BackThe third big reason to buy Nike stock on weakness is that the company's golf business will get a nice bump this quarter and perhaps for the foreseeable future.That's because Nike golf star Tiger Woods is back. In mid-April, Tiger Woods won the 2019 Masters golf tournament for the first time in 14 years, completing what many are calling one of the greatest comeback stories in sports history. That comeback story caused certain Nike golf apparel to sell out on Nike's website in the 24 hours after Woods' victory.Nike's quarterly results should reflect the rebound of its golf business sparked by Woods' victory. As long as Woods remains relevant, this lift should persist. The Freak Shoe Launches SoonThe fourth (and arguably the biggest) reason to buy Nike stock in May is that this company is heading into what looks to be a massive signature basketball shoe launch, and prior successful signature basketball shoe launches have sparked huge rallies by NKE stock.Specifically, Nike is set to release a signature basketball shoe for NBA superstar Giannis Antetokounmpo within the next few weeks. The shoe, dubbed The Freak 1, will likely debut to enormous demand, considering Giannis is widely loved by fans, is one of the best players in the NBA, and has a unique underdog story which consumers will strongly relate to. Furthermore, prior signature basketball shoe launches by NBA stars Kyrie Irving and Paul George sparked big multi-quarter rallies of Nike stock.The same thing should happen this time around. The Freak 1 will launch in May. Demand will be robust. NKE will sell a ton of basketball shoes. The numbers will improve, causing NKE stock to head higher. Women's Pivot Unlocks Enormous Long-Term PotentialThe last big reason to buy Nike stock on weakness is that this company is only scratching the surface of its long-term potential in the women's athletic-apparel business.At the current moment, Nike's revenues are dominated by the men's segment. The women's business accounts for less than a quarter of its total revenues. But the global women's athletic apparel and footwear market is 50% larger than the men's athletic apparel and footwear market. Nike knows that, understands the huge potential of its women's business, and is doing everything possible to grow its women's business, with management calling it a "huge priority" on the company's last earnings call.I think the revenue of Nike's women's business can reach $20 billion-plus over the next several years, and that's enough to enable Nike stock to march towards $100 this year. The Bottom Line on NKE StockNike stock is tumbling against the backdrop of the stock market selloff. But the recent weakness of Nike stock is nothing more than a buying opportunity. Over the long-term, NKE has all the pieces it needs to generate healthy revenue and profit growth. In the near-term, NKE has some major catalysts on the horizon which could turn this selloff into a rally rather quickly.It won't be long before Nike stock is printing fresh, all-time highs again.As of this writing, Luke Lango was long NKE, LULU, and AAPL. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Great Stocks to Buy on Dips * 6 Growth Stocks to Buy for the Rest of 2019 * 4 Mega-Cap Stocks to Sell Before They Melt Down Compare Brokers The post 5 Reasons to Buy Nike Stock on Weakness appeared first on InvestorPlace.
Welcome to the latest episode of the Full-Court Finance podcast from Zacks Investment Research where Associate Stock Strategist Ben Rains breaks down Under Armour (UAA) and Adidas' quarterly financial results.
Our call of the day, from Byron Lotter, portfolio manager at South African-based Vestact Asset Management, says news that Berkshire is buying shares of Amazon is a wake-up call for investors who think the company is out of their reach.
Sales excluding currency movements rose 4 percent in the first quarter, with growth in China and from the internet offsetting sluggish revenues elsewhere. Operating profit was much better than expected, rising 17 percent to 875 million euros ($975.9 million). More-efficient sourcing and favorable currency movements boosted the gross margin, which in turn lifted the operating margin. It sees sales growth excluding currency movements of 5 percent to 8 percent, and the operating margin rising from 10.8 percent in 2018 to between 11.3 percent and 11.5 percent.
Adidas reported a forecast-beating rise in quarterly profits on Friday, helped by booming online sales, and said it hoped to fix supply chain problems in the North American market and revive growth in Europe by the end of the year. Shares in the German sportswear maker, which have risen by a quarter this year, jumped 7 percent to a new record high, with the sector also buoyed by Under Armour Inc raising its full-year earnings forecast on Thursday. The group's profitability has long lagged that of bigger rival Nike, but has improved under Chief Executive Kasper Rorsted, who has focused on expanding in North America and Asia and pushing online sales, where margins are higher than wholesale.
Adidas AG shares soared to a record as the German sportswear giant tapped the marketing power of soccer star Lionel Messi and celebrities like Kanye West to boost sales in China, extending its half-decade hot streak. Kasper Rorsted has boosted Adidas’s market value by 20 billion-euro ($22 billion) since coming in as CEO in late 2016. The Danish executive Friday pledged to fix three key problem areas: new production is set to relieve supply constraints in North America and European sales should return to growth by the end of this year.
Kanye West garnered a lot of attention last year over his endorsements of President Donald Trump, among other things.
With tensions escalating between China and the U.S. shoe manufacturing businesses shift to Vietnam. Yahoo Finance's Julie Hyman, Adam Shapiro, Rick Newman and Lori Calvasina - RBC Capital Markets Head of US Equity Strategy discuss.
Adidas jumps higher after earnings. Adidas vs. Nike, with CNBC's Melissa Lee and the Fast Money traders, Tim Seymour, Phil Camporeale, Steve Grasso and Guy Adami.
Sir Martin Sorrell's new ad company wins clients and report sales growth in the first quarter. Sales are also up for footwear and athletic accessory producer Adidas.Yahoo Finance's Oscar Williams-Grut reports to Julie Hyman.
May.03 -- Kasper Rorsted, chief executive officer of Adidas AG, Adidas reported earnings that beat estimates as sales boomed in China and online revenue gained. Rorsted speaks on "Bloomberg Markets: European Open."