This week the clear winner on Wall Street is Nike, Inc. (NKE). On Thursday, June 27th the company released its fiscal Q4 earnings, which is calendar year Q2.
The results for Nike, Inc. were amazing, as the company reported top-line revenue of $10.2 billion, a 4% increase from the prior quarter. Nike Brand reported revenue of $9.7 billion and Converse reported revenue of $491 million.
Nike Inc. showed double digit growth in Asia and digital, an increase of 22% for the quarter. At this point it looks like Nike, Inc. is a tariff proof stock. Because Nike has intelligently increased their sales in Asia, they have significantly reduced their US/China tariff exposure.
I rate NKE a strong buy for covered call writing and dividend collection.
