Nike Ups Forecast Significantly for Growth, Stock Soars
Coming off their record Q4 with strong futures growth, the Eager Beavertons upped their five-year forecast for the Nike brand to $24-25 billion from a prior forecast of $23 billion, citing strong momentum across all categories and geographies. That would put Nike Inc. including Other Brands, at $28-30 billion by FY15. The stock jumped $8.60, or 10%, in heavy trading, on the news. Interestingly, the E.B.s’ sales target of more than $4.0 billion for the Other Brands unit now totals $3.9 billion excluding any contribution from Nike Golf, a $600 million business. With Tiger Woods’ luster somewhat dimmed, that certainly ... Log in to view full article.