Nike is out with decent numbers and the stock is up a few bucks.
- Revenues up 4 percent to $7.7 billion; 12 percent growth excluding currency changes
- Diluted earnings per share up 22 percent to $0.90
- Worldwide futures orders up 15 percent; 20 percent growth excluding currency changes
- Inventories as of November 30, 2015 up 11 percent
Nike, Under Armour, and Skechers have all benefited from the Athleisure movement. Which is when people wear gym or yoga attire outside of the gym and into everyday life. Athleisure is relatively new and just starting to gain momentum (see chart).
With the Rio Summer Olympics right around the corner and Brazil is a huge growth opportunity for Nike, I would really appreciate a pull back so I can re-enter this stock.