Think you would have put that original $1000 into Kmart stock or stock in Stocks and Match?
If you invested $1000 in Nike 10 years ago, here’s how much you’d have now
Newsroom-focused people felt the sting most at the New York Times and the Financial Times, whose share prices dropped 3% and 3.7%, respectively.
About a quarter of Nike’s total worth is concentrated in the shares of only four individual stocks.
While the footwear giant’s shares were up more than 1%, its performance fell a bit short of analysts’ expectations.
The company’s share price is up from the $50 it dropped after dropping its controversial Colin Kaepernick ad campaign.
As the business magazine Fortune notes, Nike’s performance this week was well below the all-time high it touched last year at just over $82.
And if you’d put $1000 in the company’s stock 10 years ago, you’d have almost $31,000 today.
The short odds tell you that the shoe company still has a bit of ground to cover to catch up to the leader: Under Armour shares are valued at $5,000.50 and up 100-fold in that time, CNBC notes.
Nike reported quarterly revenue of $9.1 billion in the quarter ending September 30, which beat analysts’ expectations of $8.9 billion, although results were down 7% from the same period last year.
Total sales were $25.1 billion for the year, and while that was down 1% from 2017, the drop was less than some analysts had expected.
The decline in revenue was driven largely by lower sales in North America, though North American sales did grow by 1%.
The company said it expects to be operating in the region with no sales growth for the rest of the year.
Meanwhile, at least some shoppers are saying they’ll purchase from a competitor instead.
Nike’s long history of throwing shade at NFL has clearly not been lost on some consumers, who feel it’s time for the company to publicly address the national anthem controversy.