Nike fends off rivals

The American sportswear brand is no stranger when it comes to beating rivals, says Alex Williams.

790-NFL-634

Wall Street is accustomed to Nike (NYSE: NKE) beating records. Its athletics market is booming, sales have more than doubled to $31bn in the last ten years, and the share price has risen sixfold. With double-digit profit growth, Nike has beaten analyst forecasts for 14 consecutive quarters, but with the shares trading at 31 times earnings at the start of the year, investors were perhaps expecting too much.

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free
https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Sign up