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Fashion Jobs
H&M
Security And Hse Manager – Borås
Permanent · BORÅS
H&M
Production Manager to h&m Womens Marketing Team
Permanent · STOCKHOLM
H&M
SEO & Taxonomy Specialist
Permanent · STOCKHOLM
H&M
Tactical Buyers to Non-Commercial Goods Purchase Department
Permanent · STOCKHOLM
H&M
Business Controller to h&m Kids New Premium Concept
Permanent · STOCKHOLM
H&M
Group Manager to Finance & Accounting
Permanent · STOCKHOLM
H&M
Data Specialist to Costing & Purchasing
Permanent · STOCKHOLM
RITUALS
Area Manager Stockholm
Permanent · Stockholm
PUMA
Teamhead Planning & Purchasing
Permanent · Helsingborg
PUMA
Senior Manager Merchandising Puma Golf Europe
Permanent · Solna
PUMA
Strategic Key Account Manager
Permanent · Solna
PUMA
Senior Marketing Manager Cobra Puma Golf Europe
Permanent · Solna
LEVI'S
Key Account Manager
Permanent · Stockholm
GANT GLOBAL HQ, STOCKHOLM
Retail Sales Trainer Nordics
Permanent · STOCKHOLM
GANT GLOBAL HQ, STOCKHOLM
Global Brand Production Director
Permanent · STOCKHOLM
GANT GLOBAL HQ, STOCKHOLM
Global Legal Coordinator
Permanent · STOCKHOLM
GANT GLOBAL HQ, STOCKHOLM
Senior Digital Analyst
Permanent · STOCKHOLM
GANT GLOBAL HQ, STOCKHOLM
Head of Retail Operations
Permanent · STOCKHOLM
GANT NORDIC
Sales Advisor/Visual Merchandiser 70%, Gant Flagship Store Stockholm
Permanent · LONDON
GANT GLOBAL HQ, STOCKHOLM
Marketplace Sales & Operation Specialist
Permanent · STOCKHOLM
GANT NORDIC
Sales Advisor Extra, Gant Store Mall of Scandinavia
Permanent · SOLNA
GANT GLOBAL HQ, STOCKHOLM
Global Wholesale Order Book Specialist
Permanent · STOCKHOLM
By
Reuters API
Published
Jun 26, 2021
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Nike shares hit record high as sales get post-lockdown boost

By
Reuters API
Published
Jun 26, 2021

Shares of Nike Inc surged over 15% to a record high on Friday after the sportswear giant forecast full-year sales of more than $50 billion, riding on pent-up demand for sneakers and athletic gear from U.S. shoppers.




The company's fourth-quarter revenue also nearly doubled, topping $12 billion for the first time and overshadowing a weaker-than-anticipated performance in its fast-growing China market.

"The strong momentum in Nike's brand globally is more than offsetting pressure in China and supply chain constraints," Telsey Advisory analyst Cristina Fernandez said.

A rapid vaccination drive and the easing of restrictions in Europe and the United States have encouraged people to go on a shopping spree, unleashing demand for expensive items, including sneakers.

Those factors helped Nike more than make up for weak China sales, which were hit by calls to boycott global brands for their comments around forced labor in Xinjiang.

Still, analysts are optimistic of a swift demand rebound in the region as company executives noted that sales trends in China for June were already reaching 2020 levels.

"We're confident about what we're seeing in China ... We've been in China for over 40 years ... And today, we're the largest sport brand there," Nike Chief Executive John Donahoe said on Thursday. "We're a brand of China and for China."

At least 13 brokerages raised their price targets, with Stifel's $213 target the highest on the Street. The median target is $175.

Nike's shares were trading at $152.10, after hitting an all-time high of $154.18 earlier.
The jump also helped push the S&P 500 index to a record high, while lifting shares of German peers Adidas and Puma about 6% and 2%, respectively.

"We are encouraged by increased certainty in the pace and strength of recovery, ... The worst is now behind (for Nike)," Barclays analyst Adrienne Yih said.

 

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