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MarketScreener Homepage  >  Equities  >  Nyse  >  Nike    NKE

NIKE

(NKE)
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Delayed Quote. Delayed Nyse - 08/16 04:00:58 pm
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Nike : Moving Ahead With New Factory in Arizona

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07/11/2019 | 05:15pm EDT

By Stephen Nakrosis

Nike Inc. (NKE) said Thursday it will move forward to open a new factory in Arizona, the company's third location dedicated to production for its Nike Air shoes.

The new Nike Air Manufacturing Innovation factory in Goodyear, Arizona, is expected to create over 500 full-time jobs, the company said.

The move comes after the company pulled its Air Max 1 USA sneaker from stores, as it had a "Betsy Ross" flag on the heel. The Wall Street Journal reported Nike made the decision after NFL player-turned-activist Colin Kaepernick told the company that the flag was symbol he and others consider offensive, according to people familiar with the matter.

After that decision, the Republican Governor of Arizona, Doug Ducey, told a state agency to withdraw a $1 million grant that had been offered to Nike.

Earlier this month, as reported in The Wall Street Journal, Goodyear Mayor Georgia Lord said the town would still offer incentives to Nike, as the proposed factory would provide jobs and investment in the community.

Nike said building renovations in Goodyear will be started later in the summer and production of soles for Nike Air shoes is expected to begin early next year. Nike also said hiring for the new plant will begin immediately.

"The expansion of Air MI in Arizona helps us keep pace with the growing demand for Nike Air and also greatly increases the size of our U.S. manufacturing footprint. We want to thank the State and City of Goodyear for their partnership as we continue to accelerate our growth," said Nike Chief Operating Officer Eric Sprunk.

--Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

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Financials (USD)
Sales 2020 42 131 M
EBIT 2020 5 397 M
Net income 2020 4 590 M
Debt 2020 338 M
Yield 2020 1,15%
P/E ratio 2020 27,7x
P/E ratio 2021 23,6x
EV / Sales2020 2,99x
EV / Sales2021 2,79x
Capitalization 126 B
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Technical analysis trends NIKE
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TrendsBearishNeutralNeutral
Income Statement Evolution
Consensus
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Mean consensus BUY
Number of Analysts 30
Average target price 94,57  $
Last Close Price 80,28  $
Spread / Highest target 49,5%
Spread / Average Target 17,8%
Spread / Lowest Target -12,8%
EPS Revisions
Managers
NameTitle
Mark G. Parker Chairman, President & Chief Executive Officer
Eric D. Sprunk Chief Operating Officer
Andrew Campion Chief Financial Officer & Executive Vice President
Hans van Alebeek Vice President-Global Operations & Technology
James H. Scholefield Global Chief Information Officer & Vice President
Sector and Competitors
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361 DEGREES INTERNATIONAL LTD-27.11%319