USA Gymnastics Reaffirms Trust in Nike, Extending Partnership Through 2028 Olympics
August 12, 2023
☀️Trending News
Nike ($NYSE:NKE), Inc. is an American multinational corporation that is engaged in the design, development, manufacturing, and worldwide marketing and sales of footwear, apparel, equipment, accessories, and services. The company is one of the world’s largest suppliers of athletic shoes and apparel. It is also the parent company of multiple retail stores, including Converse and Hurley International. USA Gymnastics has recently reaffirmed its trust in Nike by extending its partnership with the organization to the 2028 Olympics in Los Angeles. This decision signals a renewed trust in Nike since the Larry Nassar scandal, which had previously cast a shadow on the company’s reputation. Nike’s new commitment highlights their ability to navigate difficult situations while still maintaining a positive relationship with USA Gymnastics.
Nike plans to continue providing exclusive apparel for USA Gymnastics’ athletes and coaches throughout the duration of the multi-year agreement. This includes providing both on- and off-field uniforms for athletes at competitions. Furthermore, Nike will also be donating money to support initiatives such as USA Gymnastics’ National Governing Body SafeSport program, which provides resources and training for coaches, athletes, and parents in order to prevent abuse and harassment in gymnastics. The partnership between USA Gymnastics and Nike is an example of how companies can emerge from difficult situations stronger than ever. USA Gymnastics’ decision to extend its partnership with Nike to 2028 is a testament to their commitment to helping athletes succeed in competition while also promoting safety in the sport.
Share Price
This renewed commitment to Nike saw an increase in stock price, with the company’s stock opening at $108.7 and closing at $108.8, up 0.2% from the previous day’s closing price of 108.6. This news demonstrates that Nike remains as one of the top players in the sporting goods industry and is highly trusted by major organizations. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Nike. More…
| Total Revenues | Net Income | Net Margin |
| 51.22k | 5.07k | 9.9% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Nike. More…
| Operations | Investing | Financing |
| 4.74k | -1.52k | -4.84k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Nike. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 37.53k | 23.53k | 9.45 |
Key Ratios Snapshot
Some of the financial key ratios for Nike are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 11.0% | 23.8% | 11.5% |
| FCF Margin | ROE | ROA |
| 7.4% | 25.4% | 9.9% |
Analysis
GoodWhale recently conducted an analysis of NIKE’s wellbeing. After performing a thorough review of the company’s financial and business aspects, we have concluded that it is a medium risk investment. We have identified one risk warning in terms of non-financials. To learn more about this risk warning, you can register on our website at goodwhale.com. Here, you can view more detailed information about NIKE’s wellbeing and the risks associated with it. Overall, NIKE is a relatively safe investment. However, it is important to stay aware of the risks associated with it in order to make the best decision for your investment portfolio. By registering on our website, you will gain access to all the necessary information to make an informed decision. Nike_Extending_Partnership_Through_2028_Olympics”>More…
Peers
Nike Inc is one of the world’s leading sports and fitness companies. Founded in 1964, Nike designs, develops, and markets a wide range of footwear, apparel, equipment, and accessories for a variety of sports and fitness activities. Nike’s main competitors in the global athletic footwear market are Metro Brands Ltd, Campus Activewear Ltd, and Wolverine World Wide Inc. All three companies are based in the United States and have a significant presence in the global market for athletic footwear.
– Metro Brands Ltd ($BSE:543426)
Macau-based Melco Resorts & Entertainment Ltd is a developer, owner and operator of casino gaming and entertainment resort facilities in Asia. The company’s market cap is $24.3 billion and its ROE is 24.1%. Melco Resorts & Entertainment’s mission is to create extraordinary experiences for its guests, investors, employees and business partners. The company’s resorts offer a wide range of gaming, entertainment, dining and shopping options. In addition to its flagship properties in Macau, the company also owns and operates resorts in the Philippines, Cyprus and Malta.
– Campus Activewear Ltd ($BSE:543523)
Campus Activewear Ltd is a leading retailer of sporting goods and apparel in the United States. The company has a market cap of 192.59B as of 2022 and a return on equity of 35.63%. Campus Activewear is headquartered in Boston, Massachusetts and operates stores in all 50 states. The company sells a wide variety of products, including athletic apparel, footwear, and equipment for a variety of sports.
– Wolverine World Wide Inc ($NYSE:WWW)
Wolverine World Wide, Inc. is a global lifestyle brand that designs, manufactures and markets a range of footwear, apparel and accessories for men, women and children. The Company’s products are available in more than 190 countries and territories through a network of subsidiaries, licensees and distributors. The Company operates in four segments: Wolverine Outdoor & Lifestyle Group, Wolverine Boston Group, Wolverine Heritage Group and Wolverine Worldwide Direct-to-Consumer. The Company’s brands include Merrell, Sperry, Hush Puppies, Saucony, Wolverine, Keds, Stride Rite, Sebago, Chaco, Bates, HyTest and Cushe.
Summary
NIKE Inc. is a smart investment opportunity for any investor looking to capitalize on a strong company. The company continues to invest in innovative product development, and its strong brand recognition and market presence has led to consistent revenue growth over the years. NIKE has established strong partnerships with the world’s top sports leagues, organizations, and athletes, and its international presence has enabled it to capitalize on new markets.
Recent financial statements have also indicated strong cash flow and profitability. With its solid foundation and potential for future growth, investing in NIKE looks to be a wise decision.
Related Posts
Recent Posts
