UA - Will Nike Shock Investors Again This Week?
Nike (NYSE: NKE) surprised investors in late March by revealing strong operating trends in China despite challenging financial headwinds brought on by store closures from the COVID-19 pandemic. The footwear and apparel giant maintained its connection with shoppers during February's lockdown conditions mainly thanks to its robust digital selling platform.
The next few months were even more challenging as store closures spread to Europe and the United States.
On Thursday, Nike will announce results for its fiscal fourth quarter that covers March, April, and May. That period coincides with maximum social-distancing efforts in major markets like the U.S. and Europe, and it is likely to show significant strain on its business.