Earnings

Nike hits all-time high after the company’s earnings ‘crushed it’

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Shoppers At Niketown Store In San Francisco.

David Paul Morris | Bloomberg | Getty Images

Nike‘s stock surged to an all-time high Wednesday, on the heels of the company’s better-than-expected earnings report.

Shares jumped more than 6% in early trading, hitting a record $92.79. The stock had last hit an intraday high of $90 on April 18. It closed Tuesday, ahead of the earnings report, at $87.18.

Designing new high-tech sneakers and fashion-forward apparel, adding stores and selling fewer products in discount outlets are clearly paying off for Nike.

“The global shift towards more active lifestyles continues to accelerate, and demand for athletic product is high,” CEO Mark Parker said during a…



Source cnbc.com

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