Nike Tops Estimates. Is This the Start of a Turnaround for the Stock?

Nike (NYSE: NKE) shares were running on a treadmill after the athletic apparel company reported its fiscal second-quarter results last week. While the company was able to top estimates, its new CEO indicated that a turnaround is going to take some time. The stock is trading down nearly 30% year to date as of this writing.Let's take a closer look at Nike's fiscal Q2 results, its new CEO's turnaround plans, and when (or if) the stock may be about to rebound.While Nike was easily able to top muted expectations for the quarter, new CEO Elliott Hill lamented that the company was failing to deliver newness and tell inspiring stories, which was leading to the brand becoming way too promotional. He noted that for its direct sales, only about half its sales were at full price. In addition to hurting the top line, this has also been eating into the company's gross margin and negatively impacting profits. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool