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Nike Stock Rises After Earnings Boost Sportswear Hopes. What Analysts Are Saying.

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Nike's earnings boosted rivals such as On Holding, Foot Locker and Under Armour. Here's what Wall Street think the report means for the sportswear sector.

Shares of Nike and its peers rose on Friday after the athletics-gear company’s earnings relieved concerns about discounting. It’s a much-needed boost for Nike and the sportswear sector overall.

“A big sigh of relief will be the likely investor reaction,” wrote Jefferies analyst James Grzinic. He said key positives were Nike’s falling inventory and maintained guidance for growth in sales and an improved gross margin.

 

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