In that scenario, a trimmed target may impact the price action today but set up a buyin… Joe Terranova and Stephanie Link join CNBC’s “Halftime Report” to share their apparel retail strategy. The layoffs are part https://www.forexbox.info/ of the sneaker giant’s plan to shed $2 billion in costs over the next three years. A number of retail stocks could be exposed to the fallout from the Houthi attacks on cargo ships in the Red Sea, say analysts.
NIKE, Inc. sells athletic footwear, apparel, equipment, and accessories in the U.S. and internationally. NIKE was founded in 1964 and is headquartered in Beaverton, OR. In November 2015 Nike announced it was increasing its dividend by 14%, and that its board had also approved a $12 billion share repurchase program and a two-for-one stock split.
Nike to Trims Jobs in Latest Cost-Cutting Drive. Why the Stock Is Falling.
Oppenheimer downgraded Nike to perform and lowered its price target.
Nike, the perennially “cool” brand has a stock price that depends on it. It was on February 13th, 1997, when Nike stock price reached its then peak of $9.47. During the next https://www.forex-world.net/ 12 months, Nike stock price went through a tough period. Nike hit a stock price of $5.11 on February 13th, 1998, which represented a decrease of 46% in only one year.
- The stock remained at a high level for some weeks, but fell again sharply to bottom out at $51.07 on October 13th.
- On June 14th, 2017, NIKE’s stock price was at $54.66 before falling sharply to $51.10 by the end of the trading day on June 16th.
- NIKE was founded in 1964 and is headquartered in Beaverton, OR.
- The Company sells its products to retail stores, through its own stores, subsidiaries, and distributors.
- This decline was followed by a rally resulting in a closing price of $60.14 on August 3rd.
For this month, the cycle/relative strength concept is applied. First, the Dow Jones 30 stocks are ranked from the best performer to the worst by calculating the expected return in that month. Nike plans to use the savings to invest more in areas such as running, women’s apparel and the Air Jordan brand, according to a report from The Wall Street Journal. Nike Inc. is reportedly looking to cut more than 1,600 jobs, as part of its plan to cut costs so it can create capacity to boost profitability and innovation. Nike is cutting 2% of its current workforce, or more than 1,500 jobs, as it looks to redeploy its resources amid a broad restructuring.
NIKE IncNKE:US
Barclays is reiterating its Overweight rating and $142 per share price target on Nike (NKE). Barclays Consumer Discretionary Senior Analyst Adrienne Yih — who named the athletic apparel brand Barclays… Nike on Thursday said it will cut about 2% of its total workforce, or more than 1,600 jobs, as the https://www.day-trading.info/ sportswear giant looks to cut costs after flagging weaker profits this year. By the end of 1994, the stock hit $2.33 and by December 1995, the stock had gone as high as $4.35. In just one year’s time, the stock’s value had increased by 87%. Nike is cutting 2% of its corporate workforce to cut costs.
The company seeks to invest in priority areas such as running and its Jordan brand, according to CEO John Donahoe. According to 32 analysts, the average rating for NKE stock is “Buy.” The 12-month stock price forecast is $122.66, which is an increase of 25.64% from the latest price. Nike will announce its quarterly financial results in 14 days. Traders should take this into account as the share price often fluctuates around this time period. Sometimes, downgrades or downward revisions to price targets are a natural and healthy part of market mechanics.
Sports & Outdoor Footwear
On June 14th, 2017, NIKE’s stock price was at $54.66 before falling sharply to $51.10 by the end of the trading day on June 16th. This decline was followed by a rally resulting in a closing price of $60.14 on August 3rd. The stock remained at a high level for some weeks, but fell again sharply to bottom out at $51.07 on October 13th. On November 15th, Nike stock price closed at a price of $56.63. This represents an increase of over 11% compared to the low on October 13th and a year over year increase of almost 13%.
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NIKE, Inc. designs, develops, and markets athletic footwear, apparel, equipment, and accessory products for men, women, and children. The Company sells its products to retail stores, through its own stores, subsidiaries, and distributors. NIKE, Inc., together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, accessories, and services worldwide. Nike`s grip on the market comes down to a simple supply and demand formula, Josh Luber, CEO of sneaker reselling site StockX previously told Jefferies. This mostly applies to the sneaker market, but Nike losing its cool factor in one area of its business can seep into others.
Nike Stock FAQ
Nevertheless, patience started to pay off for investors in the 2000s, when the success story of Nike stock price regained momentum. If Nike stock was still traded at a price of $5.76 on January 2nd, 2003, it had nearly doubled its value by January 3rd, 2005, when its closing price was $11.34. Since 2004, the company began increasing the dividend on an annual basis. Ten years later, on January 5th, 2015, Nike stock price reached $46.75. The growth rate of 312% within a decade tells the outstanding performance of NIKE’s stock in the 21st century. Nike will cut about 2% of its total workforce, or more than 1,600 jobs, the sportswear giant said late on Thursday to lower expenses as demand for its shoes and sneakers comes under pressure.