Nike Shares See Big Jump After Earnings Report

Shares of sport apparel retailer Nike was exploding in Friday’s trading session as product innovation and strong online sales helped revenue climb in North America and internationally.

It was this week that the company reported better than expected second quarter results revealing earnings per share of 52 cents. Analysts had expected 46 cents a share. Revenue at $9.37 billion was also ahead of the $9.18 billion that was expected.

This year Nike shares are up 16% so far and 2018 could become the ninth positive year for the company in a decade.

“Nike is pulling out in front and I see this continuing into the next year, into 2019,” SW Retail Advisors President Stacey Widlitz remarked on CNBC’s “Squawk on the Street. ”

Jefferies analyst Randal Konik noted that this was “the perfect quarter amidst global trade disruption.”

North America sales grew 9 percent, while international revenue saw a jump of 20 percent. Digital sales also grew 41 percent.

“We expect that company to continue to recapture the share it has lost to Adidas,” Konik also said. “However, we find valuation expensive versus peers, and we see [Foot Locker] as a better way to play NKE’s resurgence. ”

Disclaimer: We have no position in Nike Inc. (NYSE: NKE) have not been compensated for this article.