Trade War Tides Turn: Nike shrugs off Trump's demands - one chart tells the whole story
It's hard to imagine anyone saying such a thing this week, but Nike has successfully tuned out President Donald J. Trump. Shocking, I know.
Nike ($NYSE:NKE) shares recently hit all-time highs after its last earnings report - and it looks like the sneaker and fashion king's ability to ignore policy bluster and stick to its knitting in China has helped the stock, as well.
Right now, along with its all-time highs for shares, China-based job postings are around recent highs. In 2019, Nike's job postings in China rose more than 35% - with significant gains coming in the quarter that just concluded. Nike's blast-off for China job postings coincides with a growth in business there.
Brian Sozzi at Yahoo Finance noted Monday September 30 in his Nike report that the fashion brand has increased China sales 27% year-over-year, at a time when Chinese consumers are veering away from other American products, like Apple phones, in favor fo Huawei products.
It may have something to do with the fact that Nike is boosting hiring in China, judging by its job postings - while Apple certainly is not. However, increasingly, companies that once shied away from doing more hiring in China appear to be bucking the one-time trend, and are moving more production and operations back, after either a reduction or a pause.
About the Data:
Thinknum tracks companies using information they post online - jobs, social and web traffic, product sales and app ratings - and creates data sets that measure factors like hiring, revenue and foot traffic. Data sets may not be fully comprehensive (they only account for what is available on the web), but they can be used to gauge performance factors like staffing and sales.