{"id":284242,"date":"2021-06-25T21:07:17","date_gmt":"2021-06-25T18:07:17","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/nike-shares-hit-record-high-as-sales-get-post-lockdown-boost\/"},"modified":"2021-06-25T21:07:17","modified_gmt":"2021-06-25T18:07:17","slug":"nike-shares-hit-record-high-as-sales-get-post-lockdown-boost","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/nike-shares-hit-record-high-as-sales-get-post-lockdown-boost\/","title":{"rendered":"#Nike shares hit record high as sales get post-lockdown boost"},"content":{"rendered":"

“#Nike shares hit record high as sales get post-lockdown boost<\/strong>”<\/p>\n

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Shares of\u00a0Nike surged over 15 percent to a record high Friday after the sportswear giant forecast full-year sales of more than $50 billion, riding on pent-up demand for sneakers and athletic gear from US shoppers.<\/p>\n

The company\u2019s fourth-quarter revenue also nearly doubled, topping $12 billion for the first time and overshadowing a weaker-than-anticipated performance in its fast-growing China market.<\/p>\n

\u201cThe strong momentum in\u00a0Nike\u2019s brand globally is more than offsetting pressure in China and supply chain constraints,\u201d Telsey Advisory analyst Cristina Fernandez said.<\/p>\n

A rapid vaccination drive and the easing of restrictions in Europe and the United States have encouraged people to go on a shopping spree, unleashing demand for expensive items, including sneakers.<\/p>\n

Those factors helped\u00a0Nike\u00a0more than make up for weak China sales, which were hit by calls to boycott global brands for their comments around forced labor in Xinjiang.<\/p>\n

Still, analysts are optimistic of a swift demand rebound in the region as company executives noted that sales trends in China for June were already reaching 2020 levels.<\/p>\n

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\"Man
The easing of pandemic restrictions in the US has spurred an increase in shopping and demand for expensive items, like Nike sneakers.<\/figcaption>
Getty Images<\/span><\/figcaption><\/figure>\n<\/div>\n

\u201cWe\u2019re confident about what we\u2019re seeing in China \u2026 We\u2019ve been in China for over 40 years \u2026 And today, we\u2019re the largest sport brand there,\u201d\u00a0Nike\u00a0Chief Executive John Donahoe said on Thursday. \u201cWe\u2019re a brand of China and for China.\u201d<\/p>\n

At least 13 brokerages raised their price targets, with Stifel\u2019s $213 target the highest on the Street. The media<\/a>n target is $175.<\/p>\n

Nike\u2019s shares were trading at $153.28 at 1:30 pm ET, after hitting an all-time high of $154.18 earlier Friday.<\/p>\n

The jump also helped push the S&P 500 index to a record high, while lifting shares of German peers Adidas and Puma about 6 percent and 2 percent, respectively.<\/p>\n

\u201cWe are encouraged by increased certainty in the pace and strength of recovery, \u2026 The worst is now behind (for\u00a0Nike),\u201d Barclays analyst Adrienne Yih said.\u00a0\n <\/p><\/div>\n

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If you want to read more News<\/a> articles, you can visit our News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n

Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

“#Nike shares hit record high as sales get post-lockdown boost” Shares of\u00a0Nike surged over 15 percent to a record high Friday after the sportswear giant forecast full-year sales of more than $50 billion, riding on pent-up demand for sneakers and athletic gear from US shoppers. The company\u2019s fourth-quarter revenue also nearly doubled, topping $12 billion…<\/p>\n","protected":false},"author":1,"featured_media":284243,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/06\/nike-soars-revenue-high.jpg?quality=90&strip=all&w=1200","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[110313,70237,66404,72938,70359],"class_list":["post-284242","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-6-25-21","tag-corporate-earnings","tag-nike","tag-sales","tag-stocks"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/284242","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=284242"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/284242\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/284243"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=284242"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=284242"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=284242"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}