NIKE, Inc. (NKE) Might Be Making A Comeback, Says Jim Cramer

We recently published 9 Stocks Jim Cramer Recently Talked About As He Said I’m A Quantum Computing “Believer”. NIKE, Inc. (NYSE:NKE) is one of the stocks Jim Cramer recently discussed.

NIKE, Inc. (NYSE:NKE)’s shares have gained a modest 3.5% year-to-date as the firm executes a slow and long-drawn turnaround. The shares have gained 22% since late June after the firm’s fiscal fourth quarter earnings beat analyst earnings and revenue estimates. The results convinced investors that NIKE, Inc. (NYSE:NKE) was successfully executing its turnaround. Cramer’s previous comments about the firm have wondered whether it should undergo another round of layoffs. Here are his recent thoughts:

“I also by the way think Nike’s making a comeback. But I know that when you go and you think sneaker, it’s always been a tough run. But these guys are a 16 billion dollar [inaudible] I like them. I really do. I like them.”

Previously, Cramer discussed NIKE, Inc. (NYSE:NKE)’s performance:

“I know. I was expecting, I was thinking that Nike would have another layoff. I think that they’re still too bloated. . . ..I think that the Footlocker buy by Dick’s is an acknowledgement that Footlocker’s getting the right Nikes. I think, but I think they needed another cut. I think they have too many people. That’s out there. I just think it’s still a little too early. I think that industry clustered around Nike, and that Nike no longer seems to have that athletic edge that they once had.”

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Disclosure: None. This article is originally published at Insider Monkey.