The trade war won't hurt Nike's game:
Nike Inc. is scheduled to report fourth-quarter earnings on Thursday after the bell and analysts say business is running so smoothly even tariffs can’t knock the athletic giant off course.
But Nike NKE, +0.60% doesn’t need to worry, according to Susquehanna Financial Group analysts led by Sam Poser. Though its most recent 10-K says the company manufactures about 26% of its shoes and the same percentage of its apparel in China, analyst checks indicate that less than 10% of these goods make it to the U.S.“We believe exposure to China in the aforementioned categories that are imported to the U.S.
See: Retailers including Walmart warned the trade war will cost U.S. households – JPMorgan says it already isNike has an average overweight rating and average target price of $92.74, according to 30 analysts polled by FactSet.Earnings: FactSet forecasts earnings per share of 66 cents, down from 69 cents last year.
The SPDR S&P Retail ETF SPX, -0.13% is up 3.2% for 2019 to date, and the Dow Jones Industrial Average DJIA, -0.13% has rallied 17.7% for the period.-North American sales fell short of Susquehanna’s expectations during the third quarter, but analysts attribute that to bad timing of new product. “Women’s should also continue to be a key growth driver in fiscal 2020 given the increased focus on the female consumer ,” wrote Canaccord.And taking this growing consumer base alongside geographical expansion and cross-channel development, the company is on an upward trajectory.
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