Telsey Downgrades Nike (NKE) After Earnings on Discounting, Franchise Weakness
Description
Christina Fernandez covers Telsey Advisory’s Nike (NKE) downgrade after earnings, citing the guidance and shrinking revenue. She notes the “big discounts” Nike is forced to make to move inventory as another negative factor. Shoes are their biggest problem, she says, with their classic franchises slowing. She calls on Nike to increase innovation and reforge relationships with their wholesale partners.
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