$Nike(NKE)$ Nike investors need to be more patient with the upcoming changes. We still recommend Nike in the long term as we see the commitment that the CEO is undertaking to improve innovation and bottom line.
Overfocusing on revenue alone will hurt the progress and work that is needed for Nike's CEO to overhaul the company. There are some fundamental issues that need to be solved and it won't happen in just one quarter.
It is admirable for the new CEO to let go of short-term Wall Street approvals and stay focused on long-term goals. For now, we think Nike is on the right track.
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Modified in.10-02
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