Battle At Bristol Helps SMI's Q3 Earnings New Nike Spot Highlights LeBron's Game 7 Block Kevin Plank Tries To Quash Investor Fears Under Armour Has Slowest Sales Growth In Six Years SeatGeek Sues ScoreBig For At Least $2M Stewart-Haas Signs Apparel Deal With Nike AT&T Reaches Deal To Acquire Time Warner For $85B Dick's Wins Auction For Golfsmith's U.S. Business StubHub Sees 32% Revenue Growth For Q3 AlphaDraft To End Paid Contests After Friday
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).