Nike shares surge 15%, hit record high as $50 billion sales outlook tops expectations


Nike shares closed Friday up more than 15%, hitting a record intraday high, after the sneaker maker forecast full-year sales topping $50 billion as its North American business rebounds from the lows of the coronavirus pandemic.

According to Telsey Advisory Group analyst Cristina Fernández, Nike is benefiting from its closer connections with customers through its membership program, higher full price selling, greater use of data and a smarter wholesale model with strong partners like Foot Locker.

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