business / news / / Barchart
Nike (NKE) stock inched up on Friday morning after the footwear giant announced its second round of layoffs, affecting roughly 1,400 employees.
Nike announced a second round of layoffs affecting approximately 1,400 employees, mainly in tech and operations.
KEY POINTS
- Nike's price-to-sales multiple is at a historic low of 1.46x, indicating a discounted valuation.
- Insider buying, including from CEO Elliott Hill, has increased recently, reflecting internal confidence in recovery.
- Nike's latest quarterly earnings and revenue both exceeded analyst expectations.
COMPANIES
Summarized by Newsio from Barchart. How we summarize →