NKE - Nike Q4 Results: Selloff Presents Opportunity For Equity Bargain Hunters

2024-06-28 09:15:44 ET

Summary

• Shares in Nike fell to levels last seen four years ago following a disappointing finish to its 2024 fiscal year.
• The company reported meager full-year sales growth and cut its fiscal 2025 guidance.
• Strength in their mainstay product lines were more than offset by weakness in its lifestyle categories.
• I view the selloff as an attractive opportunity for investors seeking an equity bargain.

Shares in sneaker giant, Nike ( NKE ), were pummeled in the aftermarket hours on Thursday following the release of its fiscal Q4 earnings results. The stock dropped about 12% after pairing a forward guidance cut with an underwhelming sales report....

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