Steve Brice of Standard Chartered Private Bank expects a sharp pick-up in retail spending with China's Golden Week holidays coming. And he favors China's consumer discretionary sector where he expects policy support to continue.
Shoppers, some wearing PPE , of a face mask or covering as a precautionary measure against COVID-19, queue to enter a recently re-opened Nike store at Gunwharf Keys shopping centre in Portsmouth, southern England on June 16, 2020.'s quarterly earnings and revenue trounced analysts' estimates, the company reported Tuesday, as its online sales soared 82%, with kids stocking up on sneakers for the back-to-school season, and business picking back up overseas.
Nike shares as of Tuesday's market close are up about 15% year-to-date. The company has a market cap of $182.5 billion.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Nike expected to return to profit as online sales, demand from China pick upStrong online sales and demand from Chinese shoppers and students heading back to school are expected to have helped Nike swing back to a profit in the first quarter, a sequential improvement from the surprise loss it posted in July, according to Refinitiv.
Read more »
Get Into Gear With Your Chance To Win A $500 Nike Gift CardNew shoes! New athleisure! New whatever you want!
Read more »
Tesla, Peloton, Nike: What to Watch When the Stock Market OpensTesla shares dropped in premarket trading ahead of the much-anticipated Battery Day event. Here's what else you should watch when the market opens. $TSLA $PTON $AMZN $FB $SPX Nasdaq
Read more »
China rolls out fresh policies to boost hydrogen vehicle salesChina, the world's biggest automobile market, rolled out fresh policies to support hydrogen fuel cell vehicles to improve the industry's supply chain and technologies, the finance ministry said on Monday.
Read more »
China uproots ethnic minority villages in anti-poverty fightChina's ruling Communist Party says its initiatives have helped to lift millions of people out of poverty, but they can require drastic changes, sometimes uprooting whole communities and prod minorities to embrace the language and lifestyle of the Han.
Read more »
Exclusive: China sharply expands mass labour programme in TibetChina is pushing growing numbers of Tibetan rural labourers off the land and into recently built military-style training centres where they are turned into factory workers, mirroring a programme in the western Xinjiang region that rights groups have branded coercive labour.
Read more »