We recently published 11 Latest AI & Other Stocks On Jim Cramer’s Radar. NIKE, Inc. (NYSE:NKE) is one of the stocks Jim Cramer recently discussed.
Popular athletic apparel provider NIKE, Inc. (NYSE:NKE)’s shares have gained 27.3% since late June. The shares rose after the firm reported its fiscal fourth quarter earnings, which beat analyst revenue and earnings estimates. The beat was crucial as it provided investors with optimism about NIKE, Inc. (NYSE:NKE)’s turnaround strategy. Cramer has previously speculated that the firm is making a comeback. However, athletic retailer On Holdings’ recent dip made him question this conclusion:
“A lot of the apparel stocks are down off of Tapestry. I’ve got to tell you, I mean Ralph Lauren is too. But the one that I’ve been watching is On Holding. I thought On Holding had a good quarter. I’ve been either disabused of that notion or perhaps I’ve been too bullish about these guys. If ONON is not doing as well, then you have to start thinking about Nike again. Now I think Nike, Elliot Hill, clearly doing a fantastic job. I was hoping they’d take out more costs, because everybody needs to take out more costs, but as these others go down, I have to wonder whether Nike isn’t really back.”
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Cramer was quite bullish about NIKE, Inc. (NYSE:NKE) in his previous comments:
“I also by the way think Nike’s making a comeback. But I know that when you go and you think sneaker, it’s always been a tough run. But these guys are a 16 billion dollar [inaudible] I like them. I really do. I like them.”
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Disclosure: None. This article is originally published at Insider Monkey.
