Nike has it all, and I’m not referring to its dominance in the shoe and athletic clothes businesses.
Its latest quarterly financial report due in the week ahead is worth watching, even for those who only have a pair of Nikes in their closet and not in their investment portfolios.
The company has consistently been able to turn in better than expected profits during the pandemic. Even as COVID-19 has pinched factories in Asia making Nikes, demand for its shoes has been high. In December, the company was growing confident that its slim inventories would be improving, especially as manufacturing in Vietnam was returning. Still, it forecast growth in the low single digits because of the virus and lost production.
