I've stopped counting but I believe this is the SEVENTH BAD REPORT on NIKE in the last five days!!!!
Citi drops Nike target after survey suggests higher promotions 06:00 NKE Citi analyst Paul Lejuez lowered the firm's price target on Nike to $113 from $116 and keeps a Neutral rating on the shares. Ahead of Nike's fiscal Q1 results to be reported on September 29, the analyst conducted a survey of 1,000 Chinese consumers and 1,600 North American consumers to gauge the momentum of the Nike brand. The survey suggests continued pressure in disposable income and higher promotions overall versus June, Lejuez tells investors in a research note. The North America survey suggests Nike is in "good standing with the consumer" but that the promotions have "ticked up" and disposable income remains pressured, says the analyst. He reduced his Q1 and fiscal 2023 estimates primarily to reflect a weaker outlook in North America and ongoing macro risks related to inflation and elevated inventories. Show Related Items
It kind of makes me believe they are all wrong. We'll see. It could be another Foot Locker that blew up on me. I just have a sense management is too smart for these foolios. I mean China yea shit show tell us something we don't know.. Europe exposure, shoes in Russia, the US Dollar, swollen inventories I'm sure there's alot of negative in that report All Known... The fact that I'm not getting nervous about this name makes me nervous.
Earn day Nike could be up 19%.
Citi drops Nike target after survey suggests higher promotions 06:00 NKE Citi analyst Paul Lejuez lowered the firm's price target on Nike to $113 from $116 and keeps a Neutral rating on the shares. Ahead of Nike's fiscal Q1 results to be reported on September 29, the analyst conducted a survey of 1,000 Chinese consumers and 1,600 North American consumers to gauge the momentum of the Nike brand. The survey suggests continued pressure in disposable income and higher promotions overall versus June, Lejuez tells investors in a research note. The North America survey suggests Nike is in "good standing with the consumer" but that the promotions have "ticked up" and disposable income remains pressured, says the analyst. He reduced his Q1 and fiscal 2023 estimates primarily to reflect a weaker outlook in North America and ongoing macro risks related to inflation and elevated inventories. Show Related Items
It kind of makes me believe they are all wrong. We'll see. It could be another Foot Locker that blew up on me. I just have a sense management is too smart for these foolios. I mean China yea shit show tell us something we don't know.. Europe exposure, shoes in Russia, the US Dollar, swollen inventories I'm sure there's alot of negative in that report All Known... The fact that I'm not getting nervous about this name makes me nervous.
Earn day Nike could be up 19%.
