Report
John Brick, CFA
EUR 101.80 For Business Accounts Only

Wide-moat Nike’s innovation and key sponsorships should bolster its leading brand standing.

Wide-moat Nike's fourth-quarter update helped to assuage any concerns about a promotional athletic/footwear environment and reinforced that it is taking steps to adapt to a changing consumer environment ahead of its peers. While foreign currency will be a headwind in fiscal 2018, and North America futures orders (down 10%) still suggest a uneven retail environment, fourth-quarter trends (revenue growth of 7% on a currency neutral basis, operating margins up 100 basis points to 13.3%) and the fis...
Underlying
Nike, Inc.

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
John Brick, CFA

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