- Nike is showing some signs of progress toward accelerating sales growth and margins, Wedbush Analyst Christopher Svezia says.
- Svezia believes the company’s financials will improve on the back of less FX pressure, a higher average selling price, and new product releases.
While some industry skeptics see the reversal of Nike’s lagging North American sales coming too little, too late, one Wall Street analyst believes it has reached an inflection point and will be seeing more upside in the future.
The sneaker giant has lost market share to rivals like Adidas because it has been slow to pick up on trends and deliver hip products in a timely fashion. However, that is starting to change as the company has begun to roll out new styles, colors, and product lines of its top seller: sneakers.
“Our view is that Nike is poised to accelerate sales…