Start the conversation
Nike Inc (NYSE: NKE) stock was up just under 5% on early Friday as the sports apparel and equipment maker benefited from a three tenths of a percent climb in retail sales. Although a comparatively modest increase by Nike, it stands out among a pack of earnings reports hammered by poor weather.
The reason for the increase from the Beaverton, Oregon firm is due in part by its seizing opportunities in the online sales space, one that Nike's been ambitiously upgrading.
Nike President and Chief Executive Office Mark Parker told CNBC in a recent interview, "Obviously there's a huge appetite from a consumer standpoint for…e-commerce, digitally based commerce. We'll see that continue. This [past] holiday was a great example of how the consumer is shifting, not only to digital but mobile-based digital commerce."
To that end Nike has greatly expanded its nike.com offerings, a move that would have stood at risk of damaging relationships with retail outlets a decade ago. Those same reeling outlets may no longer be in a position to push back.
Nike has also launched a series of international websites supportive of an enhanced global presence. Money Morning's Michael Robinson called Nike's rock-solid positioning relative to its primary competitors, Under Armour Inc (NYSE: UA) and Adidas AG (ADR) (OTCMKTS: ADDYY) earlier this month. Investors who followed his advice saw an overall 6% + return in less than two weeks if they traded after the March 6 close.