Nike Is Under Pressure
Oluwatosin Olaseinde
Founder, MoneyAfrica & Ladda | Fintech | Edtech | World Economic Forum Young Global Leader | Linked In Top Voices Finance & Economy 2020 | Mandela Washington Fellowship | Financial literacy expert
Happy New month and welcome to this week’s edition of 4 Customs Street, our weekly newsletter on the stock market.
The newsletter is divided into two:?
Green White Green—focused on the Nigerian stock market.?
Star-Spangled Banner—focused on the US stock market?
Green White Green Last Week?
Bubbling under?
United Capital may have an interim dividend and bonus in the works going by its agenda for a board meeting scheduled for this month. If approved, that would be the very first interim dividend approved by the firm.?
Green White Green This Week?
There should be more details from other banks as they warm up to raise capital in order to meet the requirements set by the Central Bank of Nigeria (CBN).
Star-Spangled Banner Last Week?
H1 was a good period for stocks. The S&P 500 is up 14.5%.?
Chipotle’s 1 for 50 split took effect during the week. Chipotle is an extremely successful restaurant chain known for its burritos and tacos.?
Nike is under pressure?
Nike shares had their worst decline in over three decades following the release of its Q4 numbers. What’s the issue? The company’s growth is slowing.?
Full year revenue was $51.4 billion compared to $51.2 billion in the previous year. Fourth quarter revenues were down 2% year-on-year.?
The company dropped the ball by its own admission when it turned its focus to distribution rather than innovating. Competitors such as Lululemon are doing much better.??
Star-Spangled Banner This Week?
Aside from Constellation brands, it is a pretty quiet week in terms of earnings.?
The focus will move to delivery numbers from the country’s automakers, most notably Tesla.?
Project Manager @ Baric Realty | Real Estate Digital Marketing & Sales.
8 个月2024 is an Olympics year. That should get Nike doing better as long as they've got good deals once Paris 2024 Olympics commence. Lately, it seems Like has been very focused on visual design but less on performance. There are .ore people in the world trying to keep fit, do sports, and hit the gym, however, we're finding Under Armour more comfortable, and less pricey than Nike and Adidas.