Here's My Top Stock to Buy in October
The coronavirus pandemic has been a massive challenge for retailers in 2020, but the crisis has accelerated digital trends in consumer behavior that could benefit those willing to adapt. I think Nike (NYSE: NKE) will bounce back from the crisis stronger than ever because of its rapidly growing online business. Let's dig a little deeper to find out why this footwear company is poised for continued success.
Nike was slammed by the coronavirus pandemic, which disrupted supply chains and closed down its retail outlets in the fiscal fourth-quarter -- sending revenue down 38% to $6.3 billion. But management used the crisis as an opportunity to accelerate the company's transition to a digital business model, which could improve margins and boost profitability over the long term.
Source Fool.com