Under Armour Makes Big Offer To Durant Golf Sales Cut Into Dick's Profits Rory, Tiger Promote New Nike Irons On "Tonight Show" ClubCorp Acquires Sequoia Golf For $265M Arizona Unveils New Nike Hoops Uniforms Aldridge Finds Endorsements Despite Small Market Disney Posts Record Q3 Despite ESPN Nike Bothered By FSU Coach's Son Wearing Rival's Gear CDI Earns Record Quarterly Revenue Adidas Cuts FY '14 Outlook, FY '15 Targets
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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).