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Fly News Breaks for August 21, 2017
NKE
Aug 21, 2017 | 03:40 EDT
Jefferies analyst Randal Konik downgraded Nike (NKE) to Hold and cut its price target to $60 from $75 saying valuation is expensive and the competitive landscape could make share gains and margin expansion difficult. The analyst said Adidas' success in reviving its brand appeal in North America has had a clear impact on Nike share as web traffic analysis indicates accelerating site visits for Adidas and slippage for Nike, Adidas online brand share of top-selling running SKUs is up, store call survey indicates Adidas mentions rising and Nike falling, and Adidas mentioned increased on the Finish Line (FINL) and Foot Locker (FL) calls. Konik expects Nike will need to more marketing to defend its share and notes futures trends suggest waning brand demand.
News For NKE From the Last 2 Days
NKE
Mar 28, 2024 | 07:29 EDT
SharkNinja (SN) announced that Patraic Reagan has been named Chief Financial Officer, effective April 22...Reagan will oversee SharkNinja's financial strategies and lead the company's global finance organization, including financial planning and analysis, accounting, treasury, tax, internal audit, and investor relations. Larry Flynn, who served as Interim Chief Financial Officer since June 2023, will continue in his role as Chief Accounting Officer. Reagan joins SharkNinja with over two decades of relevant experience. Most recently, Mr. Reagan served as the Chief Financial Officer of Nike's (NKE) Asia, Pacific, and Latin America segment, where he helped drive consecutive years of strong revenue growth, and EBIT expansion that outpaced revenue while accelerating investment in key areas. Over his 13-year career with Nike, Mr. Reagan also served as the Global VP of Business Planning and was the CFO of Nike's Direct-to-Consumer business in EMEA. Prior to Nike, Mr. Reagan held financial positions of increasing responsibility at roles with with Coach (now Tapestry TPR), Polo Ralph Lauren Corporation, Kraft Foods and Chiquita Brands International. .
NKE
Mar 27, 2024 | 13:03 EDT
Morgan Stanley lowered the firm's price target on Nike to $116 from $124 and keeps an Overweight rating on the shares. Following Nike's Q3 earnings report, the firm reduced its Q4 topline and profitability forecasts based on weaker Q4 sales gross margin guidance than previously assumed. The firm now projects 80c EPS, versus the implied guidance of about 77c-78c and the firm's prior 91c forecast.