3 major catalysts in store for Nike
The company's second-quarter earnings beat expectations, and there's even more opportunity in store.
The global apparel giant saw an increase in profits, thanks in part to strong demand in the United States as well as several international markets. Nike announced revenue of $6.43 billion, with earnings per share of $0.59. Analysts had been expected revenue to come in at $6.44 billion, with $0.58 in earnings per share.
Motley Fool analyst Charly Travers thinks this was a strong quarter for Nike. The company is investing in innovation and new products to grow the business. The Winter Olympics, the Super Bowl, and the World Cup are also poised to be positive catalysts for Nike.
Nike shares are up over 50% year to date, and just recently tapped an all-time high. Charly thinks this stock is worth the price, and might even be a good choice for income investors.
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