Chime Sold To WPP, Providence Equity Nike Preserves Converse's Original Look Fresno State Partnering With Nike For Redesign Callaway Golf Reports Mixed Q2 Results CDI Reports Record Quarterly Revenue Providence Equity, WPP Eye $547M Chime Takeover DraftKings Closes On $300M Series D Round Michigan State Well Behind Michigan's Nike Deal Nike/Michigan Pact Worth $169M DraftKings To Close VC Funding In Coming Weeks
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).