that not many retail companies have been able to offer during the Covid health crisis.
"We foresee the shift toward digital being a multi-year sales and earnings driver, supporting the stock's premium valuation multiple," said Joseph Feldman, an analyst at Telsey Advisory Group, in a client note.Nike's plans to further cull its wholesale partners and sell more directly to customers are also viewed as a positive, as outlets like department stores increasingly struggle to lure shoppers inside.
For fiscal 2021, Nike is now calling for revenue to rise at a low-teens percentage year over year, compared with a prior outlook of up high-single to low-double digits. Analysts had been calling for growth of 12.3%, according to Refinitiv.
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