Nike late Thursday reported a 12% quarterly sales decrease, but it’s what’s next that has many Wall Street traders excited.
“Overall, Nike is making the right moves by cleaning up inventory, rebalancing the product portfolio by increasing newness and reducing the focus on classic franchises, and strengthening relationships with wholesale partners, but the brand is still a few quarters away from reaching stabilization,” analyst Dana Telsey, of Telsey Advisory Group, said in a note to investors.
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