USOC Extends Nike Deal Through '20 Patriots' Nike Shoe Goes On Sale Monday Iverson Protests Nike Tribute Shoe TaylorMade CEO Sharpe Talks About His Plan Nike Terminates Adrian Peterson's Contract Adidas Meets Expectations With Q3 Results LeBron James' New Nike Spot Was Shot In Secrecy MSG Could Double In Value With Split ScoreBig Closes $18M Series D VC Funding MSG Considers Splitting In Two
CAN NIKE KEEP LONG-TERM GROWTH PROSPECTS ON SCHEDULE?
Published March 2, 1998
The value of Nike's stock was examined by PBS's Darren Gersh on "Nightly Business Report." Gersh: "The advertising is gritty, determined, heroic. It's the essence of the Nike brand, a brand that some bargain hunting investors say is now available at a discount." Marchfield Associates Managing Dir Sam Mitchell said that the strength of Nike's shares is an "association with sports and what's positive in sports. That's very powerful. That intangible value is a very high proportion of Nike's total value." Along with the brand identity, Mitchell says Nike "offers world class logistics and a proven record of aggressive management." While Nike believes it "can deliver long-term growth of 15%," Mitchell figures if sales grow "just" 8%, Nike's stock "is reasonably priced in the mid fifties, well above [Friday's] closing price of 43 7/8" ("NBR," PBS, 2/27).