Nike Inc (NYSE:NKE) has reported a strong quarter earnings which impressed many investors even though the company did not meet the street consensus or its own guidance. Many investors were impressed with the fact that Nike Inc (NYSE:NKE) handled the strong dollar very well and reported strong earnings in the quarter. CNBC’s Jim Cramer was most impressed with Nike Inc (NYSE:NKE) and talked some good about the company on CNBC. A CNBC article discusses on what Jim Cramer said about Nike Inc (NYSE:NKE).
“After its earnings conference call was done, you felt so great about Nike that you could overlook any weakness and embrace any strength. In fact, the essence of this call was: ‘We compete, we win; you figure out the currency,” Cramer was quoted as saying about Nike Inc (NYSE:NKE).
A global company like Nike Inc (NYSE:NKE) will always face currency issues and for trading in US, the company had to handle a strong dollar headwind in the last quarter. Cramer thinks that Nike Inc (NYSE:NKE) acted as a champ in reacting to this currency issues and reported strong earnings. He feels that every other company should take a note from Nike Inc (NYSE:NKE) on how to handle currency headwinds.
Cramer said that Nike Inc (NYSE:NKE) focused on their strength instead of moaning over the currency issues like many other companies.
Cramer said that the most positive thing about Nike Inc (NYSE:NKE) was that they never focused or used strong dollar as a reason to explain to investors and they also evaded the options of shifting areas to deal with currency issues. Cramer feels that the confidence from Nike Inc (NYSE:NKE) has impressed many investors.
He pointed out that Oracle also followed similar strategy and was successful. But IBM kept repeating the currency issues as reason behind hampered growth in US, which many investors did not like.
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