Nike Rallies as CEO Maintains Bullish Views of Its Prospects
- Annual sales will climb at a rate in the high single digits
- Most of the growth will come from abroad, CEO Mark Parker says
Nike Inc. shares gained after Chief Executive Officer Mark Parker maintained a bullish outlook for the athletic brand, even as he signaled that sales might not be quite as robust as originally thought.
Two years ago, Parker said that sales would increase to $50 billion by 2020, for an annual rate of about 10 percent. On Wednesday, he told investors that the pace would be in the high single digits over the next five years. Earnings per share will gain at a mid-teens percentage, he said, reiterating the rate projected in 2015.