Nike Inc. appears to be running in the right direction as it makes progress on a turnaround.
“US retailers’ comments on Nike’s new running products, the expansion of Jordan and Nike at wholesale accounts, and consumer spending during back-to-school have been positive,” noted Telsey Advisory Group analyst Cristina Fernández. She expects first quarter sales to be pressured by lower traffic online due to fewer promotions, unit reductions to key franchisees and ongoing softness in China.
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