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Are We Sure Nike's Quarter Was That Great?

2015-09-28 23:07:13| Footwear - Topix.net

The headline number was the impressive growth in China, but was the reaction more towards Nike or simply market relief at a data point contradicting a Chinese collapse? Nike's full-year guidance still roughly corresponds with long-term targets, which don't necessarily support a P/E near 30. " Nike Sales Boosted By China " read the headline in the Wall Street Journal on Thursday evening, after Nike posted a blowout Q1 FY16 - and the WSJ wasn't the outlet to trumpet the impact of Chinese growth. Beyond China, the headline numbers were impressive, as Nike raced past analyst consensus for EPS and revenue and gapped up nearly 9% on Friday - a huge performance for a well-covered, $100 billion market cap, Dow component.

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