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☆ Top Wall Street analysts prefer these three stocks for the long haul
▼ + stars: | 2024-03-17 | by ( Tipranks.Com Staff | ) www.cnbc.com time to read: +4 min

With that in mind, here are three stocks favored by the Street's top pros, according to TipRanks, a platform that ranks analysts based on their past performance. Earlier this month, Guggenheim analyst Robert Drbul reiterated a buy rating on Nike stock with a price target of $130, adding it as a "best idea." Drbul also expects the Nike brand to be highly visible at the upcoming 2024 Summer Olympics. Drbul holds the 565th position among more than 8,700 analysts tracked by TipRanks. (See Nike Stock Buybacks on TipRanks)BJ's Wholesale Club

Persons: Rafael Henrique, Gregg Moskowitz, SIEM, Moskowitz, CrowdStrike, TipRanks, Robert Drbul, Drbul, Jordan Organizations: CrowdStrike Holdings, Inc, Getty, Flow, Falcon Cloud Security, Nike, Pegasus, BJ's Wholesale Locations: 2H24, North America

☆ Tiger Woods launches apparel partnership with Taylormade after 27-year Nike partnership ends
▼ + stars: | 2024-02-12 | by ( Samantha Delouya | ) edition.cnn.com time to read: +3 min

Los Angeles CNN —Tiger Woods has found a new look after splitting up with Nike, his longtime partner, last month. On Monday, Woods announced that he would be partnering with Taylormade to launch a new apparel brand — Sun Day Red. Courtesy Sun Day RedThe golf legend’s new brand partnership comes one month after Woods and Nike announced the end of their 27-year partnership. Even as a sex scandal nearly 15 years ago drove sponsors like Gatorade and AT&T away from Woods, Nike stood by Woods’ side. Sun Day Red will sell both athletic and lifestyle wear, according to Taylormade CEO David Abeles.

Persons: Woods, Taylormade, ”, ” Woods, David Abeles, Abeles, Bob Dorfman, “, Ramishah Maruf Organizations: Los Angeles CNN, Nike, Sun, Taylormade, Woods, Greater Milwaukee, Gatorade, CNN, Baker Locations: Los Angeles, Pacific Palisades, Woods

☆ Tiger Woods ends Nike partnership after 27 years
▼ + stars: | 2024-01-08 | by ( Jessica Golden | ) www.cnbc.com time to read: +3 min

Tiger Woods during the pro-am as a preview for the Hero World Challenge at Albany Golf Course in Nassau on Nov. 29, 2023. Tiger Woods' 27-year partnership with Nike has come to an end. "Phil Knight's passion and vision brought this Nike and Nike Golf partnership together and I want to personally thank him, along with the Nike employees and incredible athletes I have had the pleasure of working with along the way," Woods wrote. In a statement, the company said: "For over 27 years, we have had the honor to partner with Tiger Woods, one of the greatest athletes the world has ever seen. Yet, Woods brought significant exposure to the Nike brand.

Persons: Woods, Tiger Woods, Phil Knight's, Mark Steinberg, Tiger, Roger Federer, Marc Maurer, it's, TaylorMade, aren't, Brian Yarbrough, Edward Jones, Eric Smallwood, LeBron James, Smallwood, — CNBC's Gabrielle Fonrouge Organizations: Nike, Nike Golf, CNBC, Apex Marketing, Golfers, CNBC PRO Locations: Nassau, Swiss, Orlando, Oregon

At least seven analysts trimmed their fiscal 2024 expectations for Nike's earnings per share since the beginning of June and 10 slashed their price targets on the company's stock, ahead of its fourth-quarter results. "Coming into this current calendar year ... wholesale orders are weak at the moment," said Morningstar analyst David Swartz, adding that declines in these orders will have a negative impact on Nike. Reuters GraphicsTHE CONTEXTIn March, Nike warned of earnings pressure amid its attempts to get rid of excess inventory through heavy discounts. In May, retailer Foot Locker, which has touted its 'renewed' relationship with Nike, also flagged declining sales, particularly for fashion-oriented sneakers. Barclays analysts noted Nike could see "moderation, and potentially negative, wholesale channel growth" in the fourth quarter.

Persons: David Swartz, Jane Hali, Jessica Ramirez, Kanye, Ananya Mariam Rajesh, Krishna Chandra Organizations: Nike, Wall, Associates, Adidas, Jordan Retro, LeBron, Nike Brand, Barclays, Reuters, Refinitiv, Thomson Locations: United States, China, Bengaluru

☆ Fake Jordans are all over Temu even after the knockoffs were removed from Shein
▼ + stars: | 2023-06-16 | by ( Jennifer Ortakales Dawkins | ) www.businessinsider.com time to read: +3 min

Sneakerheads on social media accused fast fashion giant Shein of selling fake Air Jordans. But on Temu, a bargain Chinese shopping app, similar Air Jordan knock-offs are proliferating, as both sites struggle to audit their third-party sellers. However, similar sneakers are still available on the ecommerce site Temu, which has grown in popularity as an online dollar store. When Insider searched the site for "Air Jordans," it returned more than 1,000 results which included several similar styles. The fake Jordans highlight an ongoing problem for e-commerce companies with marketplaces open to third-party vendors.

Persons: Shein, —, Air Jordan, Jordan, Temu Organizations: Service, TMZ, Air, Nike, Temu

Ron DeSantis and Disney , Nike CEO John Donahoe said it's important for corporations to choose their battles, but fight for the values integral to their brands. In response, Donahoe said companies don't need to weigh in on every political kerfuffle but should be a loud voice when their brand's values are under attack. "I think Bob's doing a great job at this," Donahoe said of Disney CEO Bob Iger. "If it's core to who you are and your values, then no, you stand up for your values," he said. "In addition, our core consumer for the Nike brand, the Jordan Brand, the converse brand, are urban Black and brown communities — that's where sneaker culture started," Donahoe explained.

☆ Inside Nike: Sources share claims of sexism, cheating, abuse at the world's wokest brand
▼ + stars: | 2023-04-05 | by ( Joshua Hunt | ) www.businessinsider.com time to read: +51 min

The conservative blowback came as no surprise to Parker, who told Nike's board of directors to expect some short-term backlash. In late 2014, the BBC sent a film crew to Portland to interview several former Oregon Project employees. "He would be at the side of the track calling out runners' splits but wouldn't call Kara's out," Adam Goucher told me. When people asked why she left the Oregon Project, she said it was a "personal decision." "I don't think it has anything to do with who the CEO is," Goucher told me.

☆ Here's how much money you'd have if you invested $1,000 in Nike 10 years ago
▼ + stars: | 2023-03-23 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +1 min

The retailer reported revenue of $12.4 billion for its third fiscal quarter of 2023, beating analysts' predictions of $11.47 billion, according to Refinitiv consensus estimates. Additionally, the company reported that revenue rose 14% compared with the year-earlier period. This has included increasing its digital sales, building experiential stores and bolstering its loyalty program. Nike Direct, the company's direct-to-consumer brand, sales rose by 17% during the holiday quarter to $5.3 billion, according to its quarterly report. Nike Brand Digital sales were up 20%.

☆ Foot Locker touts a renewed partnership with Nike — but it still won't get the hottest sneaker releases
▼ + stars: | 2023-03-20 | by ( Matthew Kish | Danni Santana | ) www.businessinsider.com time to read: +4 min

Even so, don't expect to see more of the hottest Nikes and Jordans at Foot Locker stores. The Foot Locker CEO, sporting gold Nike Air Max 97 sneakers, announced a renewed partnership with Nike at the company's investor day, addressing one of the core analyst questions facing the sneaker retailer. Mary Dillon started as Foot Locker CEO in September. Mary DillonSpeculation had been building about Foot Locker and Nike working more closely together again since December when Nike CEO John Donahoe mentioned spending time with Dillon on a Nike earnings call. As part of its new strategy, Foot Locker wants to double sales of non-Nike brands, such as Hoka On, and Crocs by 2026.

☆ Foot Locker is closing 400 stores by 2026
▼ + stars: | 2023-03-20 | by ( Parija Kavilanz | ) edition.cnn.com time to read: +3 min

New York CNN —Foot Locker is planning to shut 400 stores by 2026 as it strives to become more relevant to younger shoppers by relaunching its retail brands, introducing “experiential” new store concepts and simplifying its operations by closing underperforming mall-based stores. The stores slotted for closing across North America account for nearly 10% of Foot Locker’s total sales, said Anthony Aversa, Foot Locker senior vice president of store development. Under its corporate umbrella, Foot Locker operates more than 3,000 Foot Locker, Kids Footlocker, Champs Sports, WSS and atmos stores globally. Foot Locker reported fourth quarter sales Monday that eased 0.3% versus a year ago. Foot Locker CEO Mary Dillon told analysts she thinks hybrid work is here to stay and it’s fueling the strength and longevity in casual dressing.

☆ Nike is facing a PR nightmare as Kyrie Irving, Ja Morant, and now Tom Sachs face scandals – but experts say partnerships with celebs and athletes will never go away
▼ + stars: | 2023-03-14 | by ( Matthew Kish | ) www.businessinsider.com time to read: +8 min

Curbed published a blistering story about Tom Sachs, a Nike collaborator, this week. As long as companies have partnered with celebrities, some endorsement deals have run aground, said Coresight Research CEO and founder Deborah Weinswig. Longtime sportswear industry analyst Matt Powell, who recently founded Spurwink River, said endorsement deals are "fraught with peril." "I thought for a while that brands were moving away from real celebrity endorsements," he told Insider. "We're talking about a very, very small percentage of celebrities who get endorsement deals who have that halo effect," Herzog said.

☆ Nike sales may soar as discounts draw shoppers; margin squeeze looms
▼ + stars: | 2022-12-19 | by ( Deborah Mary Sophia | ) www.reuters.com time to read: +2 min

Analysts are projecting a near 11% jump in quarterly sales as a bounce in its U.S. business may help overcome weakness in the China market. "While retailers were initially worried about the amount of Nike inventory being shipped, the consumer is showing up and buying the Nike brand," Credit Suisse analyst Michael Binetti wrote in a note on Friday. "Most retailers have been worryingly low on Nike inventory for 2 years and are just happy to have enough to drive their apparel & footwear categories at this point," Binetti said. Reuters GraphicsLockdowns in China in October and November are also expected to be a drag on its sales in the region for the second quarter. The company reported a 20% slump in Greater China revenue in the same period last year and a 16% fall in the prior quarter ended Aug. 31.

☆ Nike is a buy that's poised for a comeback beyond 2022, Raymond James says
▼ + stars: | 2022-10-13 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

Nike is poised for a comeback after a lousy 2022, according to Raymond James. We also believe this is consensus view and while it's impossible to call the trough in stocks, we believe investors should take a longer-term view," Patel wrote in a Wednesday note. Still, Nike can come out of the other side of this period as a stronger company, according to the analyst. "Our top picks in athletic brands have meaningfully asymmetric risk/returns that favor upside over the long-term, as these are high-quality companies that can navigate a difficult near-term without diminishing the potential to drive stronger growth beyond 2022," Patel wrote. The analyst's $99 price target on Nike is nearly 12% above where the stock closed Wednesday at $88.51.

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