Nike’s attempt to re-diversify its business
During the pandemic, Nike outlined a strategy to boost its online commerce....Nike (NYSE: NKE) is a globally-recognisable brand that many of us are familiar with.
Nike is most renowned for its footwear division, with two other iconic brands under its wing: Converse and Jordan.
Apart from footwear, the company designs and distributes an extensive range of products in the sports and fashion industry, including athletic equipment, and lifestyle apparel.
The athleisure brand has struggled since the start of 2024.
In addition to hitting a 52-week low, the share prices of Nike have hit a historic four-year low.
Share prices have plummeted by 33.7% year to date, placing Nike as the worst-performing company in the Dow Jones Industrial Average (^DJI).
With share prices languishing at their lowest level in years, investors may wonder if the time is right to “Just Do It” (alluding to Nike’s famous tagline) and scoop up shares of the sports footwear company.
