Just Did It
The athletic-shoe race is looking like a blowout. On Sept. 18, Nike announced fiscal first-quarter earnings of $164.8 million, up 55% from the year before and far better than analysts had expected. Nike also served up a 100% stock dividend. The news was a slam dunk for investors, who pushed Nike shares up by 7 1/8, to 99 3/8--an increase of 40% since the beginning of the year. Rival Reebok International's shares, meanwhile, are down 10% for the same period. With footwear orders falling and ad expenses high, profits are slumping at Reebok, and key managers are bailing out.
To continue reading this article you must be a Bloomberg Professional Service Subscriber.
If you believe that you may have received this message in error please let us know.
- The U.S. Drops Out of the Top 10 in Innovation Ranking
- Here’s What Trump’s Tariffs on U.S. Imports Are Doing to Markets
- Musk's New Pay Deal Could Make Him the World's Richest Man—If Tesla Succeeds
- Trump's Tariffs on Solar Mark Biggest Blow to Renewables Yet
- This Rare Bear Who Called the Crash Warns Housing Is Too Hot Again