Tennessee Unveils New Nike Uniforms Nike's Phil Knight Stepping Down In '16 Cuban Among Group Raising Funds For Unikrn Tennessee Ready For Nike Transition Nike Sees Sales Rise 4.8% In Q4 Sources: MLBAM Eyes IPO For Non-Baseball Division Adidas Releases Wiggins' First Shoe VenueNext Gets $9M In New Financing Cavs, Nike Take Out Full-Page Ads Under Armour's Stock Split Plan Criticized
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).