Skip to content
Subscriber Only
Markets

Nike Rallies After Rosy Sales Outlook Restores Investors’ Faith

  • Company also plans to sell directly on Amazon, Instagram
  • North American sales will gain this year after first-half dip
Video player cover image

Nike Gives Investors Reason to Be Optimistic

Updated on

Nike Inc. rallied the most in almost two years after the athletic brand delivered a rosy forecast and announced plans to forge a closer relationship with shoppers, a move that will let Amazon and Instagram users buy its sneakers directly.

The athletic brand expects sales to increase by a mid- to high-single-digit percentage this year, excluding currency effects. The prospect of faster growth helped send shares of Nike up as much as 8.8 percent after U.S. markets opened Friday.