Will Nike Hit This Milestone in the First Quarter?
Nike (NYSE: NKE) has become more than a sneaker company. It's the largest apparel company in the U.S., and the second-largest in the world, only behind luxury conglomerate LVMH (Louis Vuitton Moet Hennessy), which owns about 75 brands.
As an apparel and footwear company, sales still trail behind the largest U.S. companies, such as Walmart and Apple. However, after a huge recovery from the pandemic, Nike CEO John Donohoe said the company is on track to produce its first $50 billion year in the 2022 fiscal year. Nike reports first quarter earnings, covering the period ending Aug. 31, on Sept. 23. Will it be on its way to a record year?
Jayson Tatum for Nike. Image source: Nike.
Source Fool.com
