Better than expected
Last night sports giant Nike published their results for the last quarter. Actually it‘s their Second but Q3 of 2022. Anyways, the numbers were better than expected with revenue growing 16% compared to the 2021 quarter and digital sales up 25%.
That is really good News and showing that the company is not doing bad despite the challenging situation for consumer goods. Margins though declined due to higher costs and level of goods in stock is still high.
The Nike stock rose double digit after the earnings were published, bringing it back above the 200 days moving average, an important trend line.
What do you think about Nike and the Nike stock?
