Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

Quick Hits: Nike Runs Away with Sales


Brief scrutiny of today's headlines.

Penny-pinching consumers appear to be driving Nike's (NKE) online sales.

CEO Mark Parker says the company has seen a "fairly dramatic" increase in online sales recently.

Nike is the world's largest athletic shoe maker. Last month, the company said quarterly net profit increased 9% in a downbeat economy.

Online retailing is one of the few bright spots in an otherwise dismal retail sector. Consumers appear to like the ability to shop for the best price with a few clicks. For many, online shopping beats the thundering herd at the shopping mall during the holiday season.

Amazon (AMZN) earlier reported an 8.7% increase in fourth-quarter net income to $225 million, or $0.52 a share. Sales rose 18% to $6.7 billion.

In general, traditional brick-and-mortar retailers reported a dismal holiday shopping season. But Amazon had its best season ever, attracting wary consumers with low prices, shipping promotions and an extensive product selection.

But eBay (EBAY) reported a drop in quarterly revenue for the first time in the company's history. That seems counterintuitive, but maybe most people balk at the idea of giving used stuff as Christmas gifts.

Athletic shoes seem like an odd sector to show strength in the current sour economy. Some theories: People need new shoes to run faster to their next job, or maybe they're just running to relax.
< Previous
  • 1
Next >
No positions in stocks mentioned.
The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.
Featured Videos