We recently published 12 Stocks Jim Cramer Mentioned In An Episode Where He Briefly Commented On Data Centers. NIKE, Inc. (NYSE:NKE) is one of the stocks Jim Cramer recently discussed.
Jim Cramer discussed NIKE, Inc. (NYSE:NKE) after the firm’s latest quarterly earnings report. The results saw its fiscal first quarter revenue of $11.72 billion and earnings per share of $0.49 beat analyst estimates of $11 billion and $0.27. Cramer commented on the earnings call and NIKE, Inc. (NYSE:NKE)’s CEO, and its China business:
“[On shares higher in quarterly beat and firm saying it expects tariff costs to reach $1.5 billion] China down almost 10%. I thought that this was a, this conference call was a orchestration. It was kind of like what we used to get Mark Parker, the great former CEO. I thought that this was one of the best most encouraging conference calls of the year. Elliott Hill does, I want everyone to read it, because he has this great arc in it, David. . .he talked about the British win in women’s global football. And the national pride of the Lionesses, Lucy Bronze playing with a fractured tibia in this, I’m saying this because this man is a person who understands sports. And this is about sports. And I think this is a wonderful, wonderful conference call. I think the stock goes to a 100. And that’s why the charitable trust’s been buying the heck out of it.”
“This guy, he’s a Cowboy fan, I’m not going to hold that against him. He knew everything. He knew everything. The previous CEO, who I will not mention because. John Donahoe didn’t know anything, is just, was so out of, over is head. This guy is going to win it’s about sports. It’s about running. It’s about Jordan. It’s about athleticism. It’s about getting China back. It’s about FootLocker now owned by DICK’S. This is a great story. Nike is a great story, Carl. And the conference call was equal to it. He kept expectations low. He’s not a fool. He knows what to do.
“[After Carl mentioned margin guidance was too god] Well tariffs, look lets not forget, New Balance snuck in there, New Balance got you know, New Balance took some share. And they have good shoes. . .I’m going to use one word for this guy, gamer. He’s a gamer. . .I’m telling you he is going to take China, he’s going to turn it around. . . he knows sports, he loves sports, all kinds of sports. Nike went away from it. Nike became a technology company. Nike might as well have become Rockwell Automation.
Copyright: 123mn / 123RF Stock Photo
“Well I know that, people feel ONON’s come down’s a little, ONON’s like, that’s a nice competitor. . .but I just think that this move, to bring back the affiliates, this Foot Locker-DICK’S, the relation he has with wholesalers is great. There’s still some inventory in the channel. No doubt about that. I am worried about China. But Elliott Hill, gamer, if he were here. . .he would just be schooling us.”
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Disclosure: None. This article is originally published at Insider Monkey.
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