Retail

Nike shares hit record high, as investors see digital bets paying off

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Shoppers, some wearing PPE (personal protective equipment), of a face mask or covering as a precautionary measure against COVID-19, queue to enter a recently re-opened Nike store at Gunwharf Keys shopping centre in Portsmouth, southern England on June 16, 2020.

Adrian Dennis | AFP | Getty Images

Nike shares jumped more than 5% to a fresh intraday high Monday, despite a broader sell-off, as investors rallied behind the sneaker maker’s latest quarterly results and an upbeat outlook that not many retail companies have been able to offer during the Covid health crisis.

The retailer’s big bets on its digital business are clearly paying off, with online sales of its namesake brand soaring more…



Source cnbc.com

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