NIKE keeps just doing it. The company trounced analysts’ estimates for profit, sales and orders last quarter, sending the stock into record territory on Friday. Chief executive Mark Parker has been calling Nike a “growth company” for several years now. Nike continues to prove people wrong.
The company’s shares rose 4.3 percent to $109.71 (R1 336) on Friday in New York, the largest one-day gain since September 26. The stock had advanced 9.4 percent this year to Thursday.
Nike’s fourth-quarter net income rose 24 percent to $865 million, or 98c a share, from $698m, or 78c, a year earlier. – Bloomberg