Nike, Inc. (NKE) announced on Wednesday its 2017 goal, which is to deliver $36 billion in revenue.
To meet its growth objectives by fiscal 2017, Nike points to its key growth areas in China, women’s sports, and e-commerce. Though China is currently experiencing a slowdown, while sales in the U.S. pick up steam (especially in its basketball segment), the company remains quite focused on its position in the country, believing it will be one of the company’s biggest growth areas.
By 2015, Nike expects revenues to grow 19% to $30 billion; and by 2017, it expects to reach its $36 billion target.
Nike shares inched 0.86% higher during Wednesday’s session. Year-to-date, the stock is up 35.57%.The Bottom Line
Shares of Nike, Inc. (NKE) currently yield 1.18% based on Wednesday’s closing price of $70.89 and its annual payout of 84 cents.
Nike, Inc. (NKE) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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